Minshengdang's Pledge: '500,000 Won Per Person' Disaster Relief Fund for All Citizens

[Image source=Yonhap News]

[Asia Economy Reporter Lim Chun-han] The Minsheng Party announced on the 3rd a pledge for the general election to minimize economic damage caused by the novel coronavirus infection (COVID-19) by providing 500,000 won per person to all citizens.

On the same day, the Minsheng Party published a policy pledge booklet titled 'Minsheng Bogam,' containing a total of 114 pledges across 12 sectors including economy, real estate, and youth, as well as 17 pledges for each city and province.

The main pledge is to provide a 'Disaster Overcoming Allowance' of 2 million won per household based on a four-person household. The proposal is to give 500,000 won per person to all citizens. Since the current government’s policy of providing emergency disaster relief funds to households in the bottom 70% income bracket faces difficulties in selecting recipients, the suggestion is to give the funds to everyone first and later recover the amount from the wealthy through taxes.

The Minsheng Party pledged to provide sales loss compensation support worth 3 to 6 million won to small business owners and self-employed individuals, who are the main victims of COVID-19, and to defer or reduce corporate and income taxes for a certain period. They also stated that they would support part of the rent for small business owners and self-employed individuals through subsidies.

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