[Reporter’s Notebook] Waiting for the Answer of the Deputy Prime Minister for Economy

[Sejong= Asia Economy Reporter Kim Hyunjung] As the novel coronavirus infection (COVID-19) crisis prolongs, the government has begun deliberating on whether to provide a second round of disaster relief funds and who the recipients should be. Having already engaged in an amateurish dispute over this matter about five months ago, this time they likely want to show a united front among the ruling party, government, and Blue House without major friction.

However, unfortunately, the situation as of the 2nd feels d?j? vu. Citing fiscal soundness and the burden on future generations, Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki once again emphasized 'selective distribution,' and some within the ruling party immediately criticized him. Lee Jae-myung, a leading presidential candidate and Governor of Gyeonggi Province, did not miss the opportunity to post 'Five Questions for the Deputy Prime Minister' on his social networking service (SNS). Lee directly asked whether current government spending should focus on demand or supply, and whether the current fiscal expenditure is welfare or policy. If this were a test, it would be a descriptive question, neither multiple-choice nor short-answer. The likely intention is to gauge the respondent’s thoughts or approach to the issue.

In a situation where all forecasts, indicators, and statistics are dominated by COVID-19, there is no right or wrong in government response. Realistically, what Deputy Prime Minister Hong can do is to make decisions aligned with the Moon Jae-in administration’s philosophy while considering the fiscal condition, where national debt could reach 1,070 trillion won in 2022, and the disaster of COVID-19 impacting citizens with varying intensity. Judging how appropriate these decisions were is a step to be taken after all matters are settled, and it is part of a national governance system that values the process over the outcome.

COVID-19 is undoubtedly an unprecedented virus that tests everyone. We are witnessing in a heartbreaking way how far human beings can experience class conflicts and how much hatred and selfishness can arise in the face of fear of infection and death. However, those on the highest level of the testing platform are the policy makers. Through this crisis, the public can clearly verify what philosophy and judgment capabilities they possess. Regardless of the intention behind Lee Jae-myung’s 'Five Questions,' this is why Deputy Prime Minister Hong Nam-ki’s answers are eagerly anticipated.

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