Yoo Seung-min "Disaster Relief Funds Should Be Distributed Differently... Let's Give 2-3 Times More to Those in Need"

[Image source=Yonhap News]

[Asia Economy Reporter Lee Ji-eun] Yoo Seung-min, a former lawmaker and opposition presidential candidate, expressed his support for disaster relief payments on the condition of differential distribution, while calling the ongoing discussions ahead of the by-elections a form of malignant populism. He suggested that even if disaster relief payments are made, high-income earners should not receive them, and those in need should receive two to three times more.

On the 6th, Yoo stated on Facebook, "Simple arithmetic equality of 1/n is never fairness or justice."

He pointed out, "Since before the general election last April, giving disaster relief payments equally to all citizens is neither fair nor just. For unemployed people who have to worry about their next meal or families of self-employed individuals who have been behind on rent for months, 1 million won is a desperately needed amount, but for high-income families, that money is something they can do without."

He criticized universal disaster relief payments as an inferior economic policy tool. Yoo emphasized, "Low-income groups, who inevitably have a higher propensity to consume, will mostly spend the 1 million won they receive, whereas high-income groups are more likely to save that amount. Even if paid through expiring local currency, the effect is the same." He also pointed out, based on a December study by the Korea Development Institute (KDI), that the consumption increase effect of universal disaster relief payments is minimal.

Yoo argued that the reason universal disaster relief payments are being discussed is due to "malignant populism," and said, "Instead of giving to all citizens, let's give double or triple to those who desperately need the government's help, so that self-employed individuals, small business owners, and unemployed people in despair can have hope."

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