Jo Hae-jin "Basic Income System, United Party Should Also Consider Progressively"

[Image source=Yonhap News]

[Asia Economy reporters Lee Ji-eun and Lim Chun-han] There has been a call for the United Future Party to also proactively consider the basic income system, which is being discussed by some in the ruling party.

Cho Hae-jin, who is running as the running mate of Kwon Young-se, the United Future Party's candidate for floor leader, responded to an on-site question at the 'Elected Members General Assembly for the Election of Floor Leader and Policy Committee Chair' held at the National Assembly on the 8th, saying, "I think it is necessary to proactively consider the basic income system, which is raised by the ruling party and also partially by our party, to prevent those who are truly struggling and without measures from being driven off a cliff."

During the session, questions were raised about this year's median income and methods to secure income for old age. In response, candidate Cho said, "It varies by household, but the median income is about 5.56 million won for a five-person household, about 1 million won for a single-person household, and about 2 million won for a two-person household. Before becoming a member of the National Assembly, I lived on about the median income, but after becoming a member, I was unable to save money," adding, "During my break, redevelopment caused property prices to rise by about 180 million won, increasing my assets, but realistically saving money is difficult, so I worry a lot about old age."

He said, "People think that members of the National Assembly receive pensions, but the pension system has been abolished, and only senior members who received it before are exempted in some extreme poverty cases," adding, "Civil servant pensions, military pensions, and national pensions are not enough, and there must be jobs to earn income afterward, but the state needs to prepare institutional measures for those in blind spots."

Candidate Lee Jong-bae said, "Our country has consistently worked to improve welfare, but welfare spending relative to GDP is still low," adding, "However, recently, welfare spending has increased sharply, and as mandatory welfare expenses have risen, the government has had to issue deficit bonds. It is something that must continue in the future, but a sudden increase is problematic."

He continued, "People should be able to live their old age with national pensions, various other pensions, and government subsidies," adding, "Considering various factors, including the national budget and fiscal situation, gradually increasing (welfare spending) is the task."

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