Jeong Sye-gyun Likely to Request 'Loss Compensation Proportional to Operating Loss'... 'Thursday Dialogue' Party-Government Gathering

by Son Seonhee

Published 27 Jan.2021 14:11(KST)

Updated 27 Jan.2021 15:06(KST)

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Prime Minister Jeong Sye-gyun <span class="image-source">Photo by Yonhap News</span>

Prime Minister Jeong Sye-gyun Photo by Yonhap News

[Asia Economy Reporter Son Sun-hee] Prime Minister Chung Sye-kyun will hold the 34th Thursday Dialogue on the topic of 'Institutionalization Plan for Compensation of Business Losses Due to COVID-19' at 5 p.m. on the 28th at the Prime Minister's Seoul Residence (Samcheongdang) located in Jongno-gu, Seoul, the Office for Government Policy Coordination announced.

On the afternoon of the 27th, the Office for Government Policy Coordination announced this through a press release related to the Thursday Dialogue. Eight participants will attend the dialogue, including Prime Minister Chung, Kim Im-yong, Acting President of the Korea Federation of Micro Enterprise, Lee Woo-jin, Professor of Economics at Korea University, Woo Seok-jin, Professor of Economics at Myongji University, Yoon Hoo-duk, Member of the National Assembly from the Democratic Party (Chairman of the National Assembly Budget and Accounts Committee), Kim Yong-beom, First Vice Minister of the Ministry of Economy and Finance, Kang Sung-chun, Vice Minister of the Ministry of SMEs and Startups, and Moon Seung-wook, Second Vice Minister of the Office for Government Policy Coordination.

At this meeting, Prime Minister Chung is expected to urge related ministries to promptly institutionalize a reasonable compensation plan proportional to business losses without any blind spots within the limits of the budget. This is based on the necessity of national-level compensation for economic losses suffered by self-employed individuals due to government quarantine measures such as gathering bans and business restrictions amid the COVID-19 crisis.

Various opinions on the institutionalization and specific plans for compensation of business losses are expected to be presented at the meeting. The voices of the private sector will also be heard through the Korea Federation of Micro Enterprise. Academic participants will provide opinions on the legitimacy of business loss compensation, the scope of compensation, standards, and procedures.