Won Hee-ryong: "The Ruling Party's Profit-Sharing System Denies Market Economy... Another Division"

"‘Bad Policies’ Pressuring Companies... Almost No Effectiveness"

[Image source=Yonhap News]

[Asia Economy Reporter Lim Chun-han] Won Hee-ryong, Governor of Jeju Province, criticized the Democratic Party of Korea on the 13th for starting to consider the 'COVID-19 Profit Sharing System' as a measure to alleviate economic inequality deepened by the novel coronavirus (COVID-19) crisis, calling it "another division that denies the market economy."

On the same day, Governor Won said on Facebook, "The profit sharing system proposed by Lee Nak-yeon is a policy with almost no effectiveness and is likely to be a bad policy that only pressures companies."

Governor Won pointed out, "There can be no disagreement that compensation and support for business owners who suffered damage due to the COVID-19 crisis are urgent. However, that support should not take the form of sharing the profits of companies that are barely holding on," adding, "It is nothing more than an idea to shift the responsibilities that the government should directly handle onto private companies."

He stated, "It is nothing more than a quasi-tax whose nature as a donation or a system is unclear," and emphasized, "Compensation for business owners who suffered damage from the COVID-19 crisis must be directly handled by the government. Participation by companies that have profited should be voluntary, literally."

Governor Won said, "Do not divide the people again into those who have and those who have not through this half-baked profit sharing policy," and added, "Policies that deny the basic principles of the market economy will never succeed. Self-employed people are dying. There is no time. This is not the time for idle talk."

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