Kim Min-seok "50,000 won each for under 3.5 million won per month, 10 to 12 trillion won is enough"

[Image source=Yonhap News]

[Asia Economy Reporter Park Cheol-eung] Former Democratic Party lawmaker Kim Min-seok has proposed providing disaster relief income of 500,000 won each to those earning less than about 3.5 million won per month. He estimates that this would require funding of around 10 to 12 trillion won.

On the 10th, Kim appeared on CBS Radio's 'Kim Hyun-jung's News Show' and said, "Excluding stable high-income earners, salaried workers, or other special cases, the realistic cutoff is around an average monthly income of 3.5 million won." He added, "I estimate that workers would fall into the 4th income quintile and non-workers into the 6th income decile. If we urgently provide about 500,000 won in support, the actual funding required would be approximately 10 to 12 trillion won."

He continued, "If it is 500,000 won per person, for example, when differentiating, it could be 900,000 won for two people, 1.2 million won for three people, and so on. There can be some flexibility." He suggested excluding only the wealthy or stable high-income earners.

Kim mentioned, "It would be about 24 million people." On the other hand, Lee Jun-seok, Supreme Council member of the United Future Party, said, "For example, giving 4-person families 4 million won is financially impossible." This was in response to Gyeongnam Province Governor Kim Kyung-soo's proposal to provide 1 million won per person.

He added, "For example, the most vulnerable group would be taxi drivers. Since they are a sector highly sensitive to economic fluctuations, such people may require government assistance."

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