Assemblyman Kim Du-kwan Holds Proposal Briefing on Basic Asset System in Gwangju

Kim Du-gwan, member of the Democratic Party of Korea./Photo by Yoon Dong-ju doso7@

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Sang-hyun] Congressman Kim Du-gwan (Gyeongnam Yangsan Eul) will hold a "Democratic Party: How to Regain Power? Basic Asset Proposal Briefing" at 2 p.m. on the 11th at the Gwangju City Council.

At this event, Congressman Kim emphasized that for the Democratic Party of Korea to regain power, it must present special measures to resolve the asset inequality gap, which has deepened further due to COVID-19.

The basic asset system proposed by Congressman Kim involves the government providing 20 million won to every newborn, entrusting it to a public institution, and ensuring that all young people receive assets worth more than 50 million won when they turn 20. Additionally, the entrusted assets can be invested in public housing, allowing young people to own a home when they turn 20.

As a funding source for the basic asset system, he proposed converting the current inheritance and gift tax, which exceeds 10 trillion won, into a special account for basic assets.

This briefing, structured around a roundtable on inequality, a presentation on Kim Du-gwan’s basic asset system, and a policy review talk show with the audience, will be moderated by Gwangju City Council member Kim Kwang-ran, with Kim Man-gwon, director of the Participatory Society Research Institute, participating as a guest speaker.

Congressman Kim expressed his aspirations, saying, “I am pleased to explain the basic asset system in Gwangju, the starting point for the Democratic Party’s return to power, one year before the presidential election,” and added, “I am determined to succeed in regaining power with a policy that will refresh the hearts of citizens wounded by the expansion of asset inequality.”

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