Discussion on Second Disaster Relief Fund Intensifies... Kim Jong-in Also Says "We Can Talk About It"

[Image source=Yonhap News]

[Asia Economy Reporter Lee Ji-eun] Due to the second wave of the novel coronavirus infection (COVID-19), discussions on the second disaster relief fund through the 4th supplementary budget (supplementary budget) are gaining momentum in the political sphere. Both the ruling and opposition parties are showing positive stances.

Kim Jong-in, Emergency Committee Chairman of the United Future Party, said on the morning of the 21st after visiting the Disease Control Headquarters in Cheongju, Chungbuk, "Considering the second COVID-19 situation, we suggested quickly preparing the supplementary budget, and within that scope, things like disaster relief funds can be discussed."

Since mid-month, when flood damage occurred, the opposition including Chairman Kim has been urging the government and ruling party to prepare the 4th supplementary budget. Joo Ho-young, Floor Leader of the United Future Party, emphasized the necessity of the supplementary budget at a press conference marking his 100th day in office on the 14th, saying, "Direct support for households affected by flood damage is only possible through the supplementary budget."

The Democratic Party of Korea, which had been passive about the 4th supplementary budget, seems to be accepting such claims in light of the second COVID-19 wave. It is reported that Democratic Party leader Lee Hae-chan and Floor Leader Kim Tae-nyeon requested the party’s Policy Committee to review the necessity of providing the second disaster relief fund at a closed-door Supreme Council meeting on the 21st. Democratic Party spokesperson Heo Yoon-jung said, "We have begun a basic review for consultation with the fiscal authorities."

However, concerns about the deterioration of fiscal soundness due to the three previous supplementary budgets are rising, and there is considerable public opinion urging caution regarding the supplementary budget. On the 19th, Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki drew a line on the 4th supplementary budget for flood recovery, saying, "We are currently in a situation where we can mobilize 3 trillion won plus alpha."

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