Lee Jae-myung "Emergency Financial Economic Order Should Provide 1 Million Won Per Person"

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Lee Jae-myung, Governor of Gyeonggi Province, once again pressured the government to provide 1 million won per person in local currency to revive the national economy severely damaged by the unprecedented COVID-19 crisis.

He emphasized that the government's disaster relief fund should be executed more swiftly through an emergency financial and economic order rather than waiting for the National Assembly's deliberation and approval.

On the 7th, Governor Lee presented five principles and procedures for the government's disaster relief fund to be distributed to all citizens via Facebook.

First, he said, "(As the ruling and opposition parties have agreed to provide the government disaster relief fund to all citizens) the obstacles of conflict, division, and waste of time and cost have disappeared," adding, "Instead of stigmatizing and selecting recipients, it is much easier and (cost-wise) cheaper to pay everyone first and then determine the subjects for recovery during next year's tax settlement."

He also insisted that "the disaster relief fund should be paid on an individual basis, not by household."

According to the current government plan, a single-person household receives 400,000 won per person, but a six-person household receives 170,000 won per person, which means single-person households get special benefits while couples raising children with their parents face disadvantages, Governor Lee pointed out.

Governor Lee particularly proposed to the government that "the disaster relief fund should be paid in local currency, not cash."

He advised, "Even in areas without local currency, it is possible to issue credit cards or local currency cards in consultation with financial institutions, like the Gyeonggi Province-type disaster basic income, and fixed-amount prepaid cards can be distributed on-site. If paid in cash, there is a high possibility, as in the past with Japanese citizens who saved rather than consumed, that it will not effectively increase sales for small businesses or companies."

He also said, "In the face of an unprecedented economic crisis, giving money to the people repeatedly is like watering a heated yard, and large rolling stones cannot be stopped with small pebbles." He added, "Considering the reasons why the U.S. with 2 trillion dollars, as well as the U.K., Japan, Germany, and Taiwan, are pouring out unimaginable large-scale economic support measures, this disaster relief fund should be 1 million won per person."

Furthermore, he stressed that while the central government should provide uniform support nationwide, selective and special support should be entrusted to local governments, and the payment of support funds should be decided and executed swiftly through an emergency financial and economic order rather than waiting for the National Assembly's deliberation and approval.

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