Kim Bu-gyeom: "Government Supplementary Budget is Telling People to Take Loans... An Absurd Prescription"

"Increase Direct Support Including State Responsibility for Rent"
"Proportion Given to Daegu and Gyeongbuk Only 7% of Total Supplementary Budget"
Regarding Possibility of Postponing General Election, "Need to Wait Until End of March"

[Image source=Yonhap News]

[Asia Economy Reporter Wondara] Kim Bu-gyeom, a member of the Democratic Party of Korea, emphasized the need to increase the proportion of direct support in the supplementary budget for responding to the novel coronavirus infection (COVID-19).

On the morning of the 6th, Kim appeared on BBS Radio and said, "Looking at the proposal submitted yesterday, it is frustrating," pointing out, "They say they will help self-employed and small business owners with 2.4 trillion won, but 1.7 trillion won of that is for loans."

Kim said, "If you have ever tried to get a bank loan, you would know that they check your credit rating and past loan history," adding, "Support should be provided quickly, but telling people to prepare documents and then go somewhere to get a loan makes no sense." He also added, "I think they still do not understand the urgency of the situation."

On the same day, appearing on MBC Radio, he said, "The proportion of direct support should be increased." He said, "For example, if rent is reduced, instead of compensating with taxes, the government should take responsibility for the rent so that these people can breathe a little easier."

He continued, "They made a very absurd prescription," pointing out, "For example, coupons." He criticized, saying, "If this goes on for two or three more months, there will be a surge in business closures," and added, "While it will definitely help over time, how many people will be able to endure until the actual warmth circulates after a full cycle?"

Kim also pointed out that this supplementary budget is effectively designed to help local government finances. He said, "About 600 billion won is to be specially supported to Daegu and Gyeongbuk, but this is largely to help so-called local government finances." He also noted, "Out of the total supplementary budget of 11.7 trillion won, the amount given to Daegu and Gyeongbuk is only 7%, or 600 billion won."

Meanwhile, regarding the possibility of postponing the general election, Kim said it should be assessed around the end of March. He said, "The people, the president, and the members of the National Assembly will make a judgment around the end of March on whether it is possible to carry out the political schedule or not, and a decision will come out around that time."

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