Kim Jong-in Proposes 3 Principles for Disaster Relief Funds: "Selective Support, Main Budget Adjustment, Reduction of Blind Spots"

"Not Election Funds but Livelihood Funds for Those Affected by Disasters"

[Asia Economy Reporter Naju-seok] Kim Jong-in, Emergency Committee Chairman of the People Power Party, presented conditions such as 'selective support,' 'adjustment of the main budget,' and 'reduction of blind spots' regarding the 4th disaster relief fund.

Kim Jong-in, Emergency Response Committee Chairman of the People Power Party, is attending the Emergency Response Committee meeting held at the National Assembly on the 8th and delivering an opening remark. Photo by Yoon Dong-joo doso7@

On the 8th, Chairman Kim stated these principles during the People Power Party Emergency Committee meeting held at the National Assembly, saying, "I will speak about three points regarding the 4th disaster relief fund."

He pointed out, "(The 4th disaster relief fund) should be a relief fund for survival." Chairman Kim said, "While the household income of the top 20% income group increased by 2.9%, the household income of the bottom 20% income group decreased by 1.1%," adding, "The disaster relief fund should not be election funds distributed to everyone but livelihood funds for those affected by the disaster." He continued, "Since data such as sales, electricity bills, and wages already exist from the government and private sectors, I hope support will be selectively and differentially provided according to the scale of damage starting from small business owners."

Regarding the funding for the 4th disaster relief fund, he also voiced that adjustment of the main budget's expenditures is necessary rather than additional supplementary budgets. Chairman Kim said, "National debt increased due to four supplementary budgets last year," and added, "I hope we stop thinking about borrowing money first and start thinking about tightening our belts." He pointed out, "Out of this year's 558 trillion won budget, 292 trillion won is disaster expenditure, and if 10% of this is reduced, 29 trillion won in resources can be secured while minimizing bond issuance."

He also argued that the blind spots in survival support should be minimized. Chairman Kim said, "Support must be provided without gaps even to wage earners whose income has significantly decreased or who have become unemployed," and added, "Showy disaster relief that only considers elections or regime approval ratings must be stopped."

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