Lee Jae-myung: "For the 3rd Disaster Relief Fund, Give 200,000 to 300,000 Won in Local Currency to All Citizens Nationwide"

[Asia Economy Reporter Jeon Jinyoung] Lee Jae-myung, Governor of Gyeonggi Province, on the 28th, regarding the political circle's discussion on the 3rd disaster relief fund payment, asserted, "In January next year, 200,000 to 300,000 KRW per person should be fairly distributed to all citizens in the form of local currency."

[Image source=Yonhap News]

On the same day, Governor Lee sent an appeal letter containing this message to the leadership of the Democratic Party of Korea and all its members, stating, "From the perspective of budget execution efficiency, policies with overlapping effects should naturally be adopted."

In the appeal letter, he emphasized universal payment by saying, "The policy that simultaneously generated economic revitalization and household support effects was the first disaster relief fund, which was paid to all citizens as local currency with a three-month expiration period. However, after the second disaster relief fund was selectively paid in cash, household consumption expenditure actually decreased by 1.4%, and there was no sense of economic revitalization felt as when the first disaster relief fund was paid."

He continued, "Now is the time to prevent the increase of household debt, promote economic revitalization, and enhance the sense of solidarity and belonging among citizens who are anxious due to the crisis through universal payment of local currency-type disaster relief funds," adding, "Everyone has suffered from the economic crisis caused by COVID-19, and it is not right to exclude taxpayers from economic policy benefits or welfare policy benefits."

He further stated, "The selective cash payment of 3 to 4 trillion KRW currently under discussion is an inefficient waste of precious budget in terms of scale, target, method, and effect," and added, "We must give people the assurance that they can rely on the state when they are in danger. I earnestly appeal to the leadership and members of the National Assembly to ensure that the 3rd disaster relief fund is paid to all citizens in local currency."

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