Ministry of Economy and Finance to Continue 'Consumption Coupons'... Review if COVID-19 Resurges

[Image source=Yonhap News]

[Image source=Yonhap News]

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[Asia Economy Reporter Jang Sehee] Although the social distancing level in the Seoul metropolitan area has been raised to level 1.5, the government has announced its intention to continue issuing consumption coupons. This has raised concerns that it may cause confusion in the public’s daily quarantine response amid already waning vigilance against the novel coronavirus disease (COVID-19).


On the 20th, 363 new COVID-19 cases were reported. The number of new cases remained in the 300s for two consecutive days, following 343 cases the previous day. Currently, the entire areas of Seoul, Gyeonggi, and Gwangju, as well as some parts of Gangwon Province, have been elevated to social distancing level 1.5, and Suncheon proactively raised its level to 2 the day before in response.


Under level 1.5, quarantine measures are strengthened mainly for 23 types of multi-use facilities. The key management facilities include five types of entertainment venues such as clubs, direct sales promotion centers, singing practice rooms, indoor standing concert halls, and restaurants and cafes. In these facilities, the number of users is limited to one person per 4 square meters of facility area.


The main reason behind concerns of a third resurgence following the second large-scale outbreak is the government’s mismanagement of messaging. While quarantine authorities urged people to refrain from using multi-use facilities, the government lowered the distancing level to 1 and resumed the consumption coupon program.


This time as well, messages from the quarantine authorities and the financial authorities are conflicting. The Korea Disease Control and Prevention Agency (KDCA), the quarantine authority, requested people to refrain from face-to-face gatherings during the winter risk period and year-end holidays, whereas the Ministry of Economy and Finance, the financial authority, announced that it would continue the eight major consumption coupon programs despite the level 1.5 measures.


On the 19th, Kim Yong-beom, the first vice minister of the Ministry of Economy and Finance, said, "Under social distancing level 1.5, the consumption coupon program will continue under thorough quarantine measures," adding, "If the spread worsens, we will review it again with the relevant ministries at that time."


Additionally, there are criticisms that promoting international flights without landing increases the risk of large-scale group infections. Previously, to support duty-free shops and the airline industry, which are on the brink of collapse due to COVID-19, the government decided to allow duty-free purchases on so-called 'no-landing flights' where passengers board and return without landing anywhere.



Meanwhile, Jung Eun-kyung, head of the Central Disease Control Headquarters (KDCA Commissioner), emphasized, "What we are most concerned about is not whether the number of patients increases gradually to 200, 220, or 250 in a predictable manner, but whether at some point the cumulative number of patients grows exponentially," adding, "If the number of patients increases exponentially and this pattern continues for one to two weeks, the current intensive care unit beds will become insufficient."


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

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