Democratic Party: "New Coronavirus, Tax Support Measures Prepared... Bipartisan Response Needed"

Lee Hae-chan, leader of the Democratic Party of Korea, is attending the Supreme Council meeting held at the National Assembly on the 12th and delivering a speech. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporters Kang Nahum and Jeon Jinyoung] Lee Hae-chan, leader of the Democratic Party of Korea, stated on the 12th regarding the novel coronavirus infection situation, "We will continuously communicate with the field and prepare tax support measures."

At the Supreme Council meeting held at the National Assembly that day, Lee said, "The party and government have prepared the 'Measures to Revitalize Small and Medium Enterprises and Small Business Owners,' which support not only production but also management, finance, and sales, and announced it just now. This measure will help resolve difficulties immediately."

He added, "Looking at the employment trends in January, the number of employed people increased by 568,000 compared to the previous year, and the employment rate rose by 0.8 percentage points. We have also heard good news that automobile companies that had suspended operations are resuming work."

Lee emphasized, "Nevertheless, there are concerns about the decline in vitality of small and medium enterprises and small business owners due to reduced consumption. Minimizing the adverse effects on our economy is as important as the novel coronavirus quarantine."

Lee In-young, floor leader, stressed the National Assembly's joint response to prevent the spread of the novel coronavirus. At the meeting, he said, "It has become very important for the National Assembly to respond jointly beyond party lines. The National Assembly must do everything possible to respond not only to the spread of the novel coronavirus but also to minimize economic damage."

He continued, "The daily lives of the people are severely restricted, and the economy is freezing. Urgent reports indicate that small business owners and self-employed people are choosing to close their businesses as sales have halved, and one in four small and medium enterprises has suffered damage."

He then requested, "Starting from the weekend, I ask all government ministries except the quarantine authorities to focus on establishing domestic demand measures. We must prepare special measures for small business owners and the self-employed. While measures that take time are important, small and practical responses that can provide immediate help are also crucial."

Lee In-young concluded, "We need to pool wisdom for realistic measures to revive the frozen local markets due to infection fears. Although each party’s political schedule will be busy ahead of the election, I ask the opposition parties to respond together by holding standing committee meetings to stabilize the lives of the people."

This content was produced with the assistance of AI translation services.