Lee Nak-yeon: "Temporary Disaster Relief Fund, Direction to Be Decided Within a Few Days"

"Many countries are introducing direct support measures for their citizens"
"Tomorrow, the President will present bold financial market stabilization measures at the economic policy meeting"

[Image source=Yonhap News]

[Asia Economy Reporter Wondara] Lee Nak-yeon, Chairman of the Democratic Party's COVID-19 National Crisis Overcome Committee, stated that "many countries are introducing direct support measures for their citizens" and announced that a decision on disaster basic income payments will be made within a few days.

On the morning of the 23rd, at the National Assembly's COVID-19 National Crisis Overcome meeting, Chairman Lee said, "We will coordinate with the government on the temporary provision of disaster relief funds to help the lives of citizens experiencing the disaster and to stimulate market demand, and we will set a direction within a few days."

He added, "Many countries have introduced direct support measures for their citizens, and our party has also kept the door open to reviewing such measures," and continued, "Now, the government and ruling party will take much more responsible coordination on this issue and present it to the public and opposition parties."

Chairman Lee also said, "Even financially sound companies that used to make profits are being pressured on all fronts, and corporate damages are increasing," and added, "At tomorrow's emergency economic meeting presided over by the President, bold measures to stabilize the financial market will be announced."

He explained, "Meanwhile, the government has been closely monitoring domestic and international economic conditions and focusing on the most urgent issues. Support measures amounting to 31.7 trillion won, including supplementary budgets, and additional support measures exceeding 50 trillion won are being implemented," and added, "A $60 billion Korea-US currency swap agreement has also been signed to stabilize the foreign exchange market."

Regarding the government's response to the novel coronavirus infection (COVID-19), Chairman Lee said, "The World Health Organization has evaluated our quarantine measures as a 'textbook' example." He continued, "Overseas media are praising our quarantine efforts along with citizens who are not hoarding supplies," and added, "We also thank the pharmacists who have worked hard and borne losses. We will provide institutional compensation for the damages suffered by pharmacies."

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