Sinsedon "Reformist Tendencies Comparable to Kim Jongin... Sequential Announcement of Groundbreaking Policies"

"Let's Promote a 40 Trillion Won COVID National Bond... Funding from Idle Funds"
"Measures for Education of People in Their 40s Also Being Prepared"

[Image source=Yonhap News]

[Asia Economy Reporter Kim Hye-min] Shin Se-don, honorary professor of the Department of Economics at Sookmyung Women's University and co-chairman of the Future United Party's April 15 general election joint campaign committee, said on the 23rd, "My reformist tendencies are no less than those of former professor Kim Jong-in, whom the party tried to recruit," adding, "We will continue to reveal policies through which the Future United Party will declare an economic transformation that will shake the heavens and the earth."

On the same day, through YTN radio in the morning, Chairman Shin explained the background of his recruitment as co-chairman, saying, "I do not personally know Representative Hwang Kyo-ahn. He has expressed his economic convictions several times, and it seems he judged that I am most suitable for the economic slogan of economic transformation."

The day before, Chairman Shin held a press conference and proposed the issuance of a 40 trillion won scale 'Corona National Bond' for self-employed people. Regarding this, he explained, "Despite a crisis comparable to the IMF, the government's primary measures were 'I'll lend you some money, reduce the interest a bit, or provide guarantees so borrow money,'" adding, "I propose direct support of up to 10 million won per affected small business owner within a limit of 10 million won per person."

Chairman Shin said, "Calculating the money involved here comes to roughly 40 trillion won," and added, "The funding source is the liquidity that has not found investment destinations." He said, "Because the interest rate is too low, money is not being invested in real estate or stocks, so we want to draw on that money," and "We named it the 'Corona National Bond,' issuing 3 to 5-year government bonds at an interest rate of 2.5%."

He emphasized, "This is a nationwide bond to overcome the Corona crisis, and if we give financial institutions a 0.5% commission and set the overall interest rate at 2.5 to 3%, we could mobilize resources exceeding 40 trillion won," adding, "We could also secure about 100 trillion won needed for the modernization of bases in difficult areas such as Gumi, Ulsan, Geoje, and Mokpo." This is interpreted as a signal that the Future United Party is willing to actively pursue whatever is necessary to revitalize the economy, even if it costs 100 trillion won.

Regarding criticism that this contradicts the Future United Party's stance, which has been concerned about fiscal soundness, he said, "If government bonds are issued and used to benefit the country and its people, the national debt ratio is not a problem," adding, "However, including the Moon Jae-in administration, the Liberty Korea Party, and previous governments, government bonds were issued and actually only benefited others, and the people did not receive any benefits. I am criticizing this."

He explained, "Until now, government bond issuance has benefited financial institutions and large corporations, which is why it was criticized, but if bonds are issued to help the public, ordinary people, and the self-employed, no one will oppose it," adding, "From that perspective, the Future United Party has changed considerably."

When asked about the absence of an election slogan, Chairman Shin said, "What matters is not the slogan but whether the burden on the people is actually reduced," and expressed confidence, saying, "We will fight with content. We are preparing measures for the education of people in their 40s, and when the policies come out, the public will cheer."

Meanwhile, regarding the controversy over former Future Korea Party representative Han Seon-gyo's claim that he was pressured by Representative Hwang for nomination demands, he drew a line, saying, "(Han's statement) was careless and he eventually apologized," adding, "Requests to consider placing someone on proportional representation regardless of party are common realities, and since he apologized later, I consider the issue closed."

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