Jung Se-kyun "Disaster Basic Income, Understands Purpose but Public Sympathy Comes First"

[Image source=Yonhap News]

[Asia Economy Reporter Kim Hyemin] Prime Minister Chung Sye-kyun expressed a reserved stance on the introduction of disaster basic income proposed by some within the ruling party, saying, "I sympathize with the intent, but sufficient discussion is necessary."

On the 11th, Prime Minister Chung attended the plenary session of the Special Committee on Budget and Accounts at the National Assembly and responded to Rep. Kang Hoon-sik of the Democratic Party of Korea's demand that "social discussions on disaster basic income should be actively initiated in light of the novel coronavirus disease (COVID-19)."

He said, "Since the current situation is an emergency, I think such proposals or discussions can arise, and I sympathize with the intent," but added, "Building public consensus is a priority."

Prime Minister Chung stated, "There have been many discussions in Sweden and Switzerland as well, but it seems they have not yet gained public consensus. In our case, given the urgent situation, such proposals can certainly be made, but considering the current fiscal conditions, it is not easy to support it immediately."

Democratic Party Rep. Choi In-ho also argued, "If it is difficult to cover the entire population, basic income support should be actively considered for groups directly affected, such as self-employed individuals, some small and medium-sized enterprises, and academies that are closing down." However, Prime Minister Chung emphasized, "It requires too much budget, so immediate implementation is difficult. The local love gift certificates and Onnuri gift certificates included in this supplementary budget will be in line with that system."

Meanwhile, concerns were raised at the meeting that despite setting a super budget this year due to the impact of COVID-19, it is not being properly executed.

Rep. Kang said, "Social overhead capital (SOC) projects are not being properly executed due to COVID-19. Even though a massive budget was set, it is not being spent," and suggested, "We should consider using these funds for a second COVID supplementary budget instead." He added, "We must seriously consider the possibility of budget rollover or non-execution. Instead of borrowing again for the supplementary budget, we should review utilizing these budgets."

In response, Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki drew a line, saying, "The SOC budget is 23 trillion won. Although execution may be slow at first, it should be steadily executed as confirmed by the National Assembly this year, which will also help support the economy." Rep. Kang pointed out, "Otherwise, we must encourage prompt execution. If it is rolled over later, there will be severe evaluations."

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