Ministry of Unification: "North-South Cooperation Fund COVID-19 Support Is Not a Justifiable Claim"

[Image source=Yonhap News]

[Asia Economy Reporter Lee Ji-eun] In response to claims from some opposition parties suggesting that the Inter-Korean Cooperation Fund be used for domestic COVID-19 support, the Ministry of Unification stated that "this is not a reasonable claim."

A Ministry of Unification official said in a written briefing on the 4th, "The use of the Inter-Korean Cooperation Fund is strictly limited to mutual exchange and cooperation between the two Koreas under the Inter-Korean Cooperation Fund Act," clarifying this position.

The official explained, "From the perspective of national fiscal principles, proposing to use it for domestic COVID-19 support is not a reasonable claim," adding, "Considering the special nature of the Inter-Korean Cooperation Fund as a reserve resource and the need for smooth project implementation when inter-Korean relations improve in the future, administrations such as the Lee Myung-bak government (an average of 1.0712 trillion won) and the Park Geun-hye government (1.0405 trillion won) have maintained the fund at a scale of around one trillion won."

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