President Moon: "The Key is Speed, Emergency Supplementary Budget to be Submitted to the National Assembly as Soon as Possible" (Comprehensive)

On the 28th, dialogue with leaders of the four ruling and opposition parties at the National Assembly Sarangjae... "Both public safety and the economy are in a serious situation due to COVID-19"

[Asia Economy Reporter Ryu Jeong-min] On the afternoon of the 28th, President Moon Jae-in met with the leaders of the four ruling and opposition parties at Sarangjae in the National Assembly and stated regarding the "Novel Coronavirus Infection (COVID-19)" that "an emergency supplementary budget will be prepared and submitted to the National Assembly as soon as possible to fully support the necessary assistance with the budget."

President Moon said, "I believe the key is speed. During the 2015 MERS outbreak, I proposed the supplementary budget first as the opposition party leader and also had it passed quickly. Since this is an emergency situation, I ask for swift discussions and for this to be handled in this extraordinary session of the National Assembly."

Present at the meeting were Lee Hae-chan, leader of the Democratic Party of Korea; Hwang Kyo-ahn, leader of the United Future Party; Yoo Seong-yeop, co-leader of the Minsheng Party; and Shim Sang-jung, leader of the Justice Party, representing the four ruling and opposition parties. President Moon and the party leaders shared a consensus on the need for active responses to resolve COVID-19. Regarding this, President Moon said, "The COVID-19 situation is an extremely urgent and serious matter for both public safety and the economy. I have come to the National Assembly to seek bipartisan cooperation."

President Moon explained, "The government is mobilizing national capabilities to respond with full force. The crisis alert level has been raised to 'serious,' and the Prime Minister is directly serving as the head of the Central Disaster and Safety Countermeasures Headquarters, residing in Daegu to lead efforts to contain the spread of the infectious disease. The quarantine authorities and medical staff are fighting day and night. Private medical personnel are also actively participating and dedicating themselves."

[Image source=Yonhap News]

President Moon added, "The people themselves have become the main agents of quarantine, uniting with one heart. Voluntary rent reduction campaigns are spreading nationwide, and there are continuous cheers and voluntary support encouraging residents of the Daegu and Gyeongbuk regions who are facing particular difficulties."

President Moon said, "The National Assembly has formed a special committee on COVID-19 measures, and the 'COVID-19 Three Acts,' including the Infectious Disease Prevention and Management Act and the Quarantine Act, have been swiftly passed. Everyone has also expressed willingness to cooperate on the supplementary budget. Since the cooperation of the National Assembly has gotten off to a good start, I ask that the intensity and speed of cooperation be increased. I expect the budget and systems to support the strengthening of the nation's quarantine capabilities and damage relief."

President Moon stated, "During the 2015 MERS outbreak, the National Assembly formed a special committee that strengthened infectious disease response capabilities by establishing screening clinics and expanding negative pressure rooms. While it is important now to unite across party lines to end COVID-19 early, this should also be an opportunity to upgrade the nation's quarantine capabilities to the next level. I ask for your attention and wisdom not only on urgent measures but also on mid- to long-term measures."

[Image source=Yonhap News]

President Moon said, "What is greatly concerning is the economy. The impact on our economy is very severe. The longer this lasts, the more worrisome it becomes." He pledged, "The government has introduced bold fiscal measures to provide emergency support to affected companies and small and medium-sized merchants, and has presented extraordinary measures to revive the contracted economy. Unprecedented measures will be devised for affected regions and industries, and tax and financial support for struggling small businesses and merchants will be greatly expanded."

In particular, President Moon said, "To expand the voluntary rent reduction campaign, the government intends to support half of the rent reduction. Bold consumption stimulation measures are also necessary to revive domestic demand. We will provide full support to resolve the socioeconomic damage experienced by the Daegu and Gyeongbuk regions."

President Moon urged, "We will promptly execute the emergency budget, including special grants and contingency funds, and devise strong support measures that go beyond the declaration of special disaster areas. If there are measures that need to be further strengthened, I ask the National Assembly to provide their opinions."

President Moon added, "Although this is a grave crisis, we can overcome it. If the government and the National Assembly join forces, the resolution of the situation and economic recovery will be expedited. Let us work together so that today's meeting can give hope to the people."

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