People Power Party: "Government and Ruling Party Avoid Reviewing Retroactive Loss Compensation Bill... Ignoring People's Livelihood"

Democratic Party, Actively Engage in SME Bill Review Subcommittee Deliberations

Lee Cheol-gyu, the secretary of the People Power Party's Industry, Trade, Energy, Small and Medium Business Committee, and committee members urged the government and ruling party to introduce retroactive application of loss compensation at the National Assembly Communication Hall in Yeouido, Seoul on the 27th. 2021.4.27 [Photo by Yonhap News]

[Asia Economy Reporters Hyunju Lee and Juni Park] On the 27th, members of the People Power Party belonging to the National Assembly's Industry, Trade, Energy, Small and Medium Enterprises Committee urged the Democratic Party of Korea to actively participate in the review of the SME bill review subcommittee, stating that "the government and the ruling party are avoiding discussions on enacting a law for retroactive compensation for losses."

The People Power Party members of the Industry Committee held a press conference on the same day, saying, "Today, the National Assembly also intended to review the introduction of loss compensation, but it was postponed again due to the ruling party's lukewarm attitude," and pointed out that "(small business owners) are actively cooperating with the government's quarantine measures, but the result is nothing but anger and despair." They added, "Loss compensation is a very natural obligation of the government according to the government's quarantine administrative measures and a constitutional mandate."

According to the Industry Committee members, the application rate for disaster relief funds for street vendors, passed through last month's supplementary budget, is only 0.0008%. The members rebutted, "In fact, there are virtually no applicants, and it is unreasonable to say there is no money while making such haphazard budget allocations and executions," adding, "It is not about the budget but about the lack of will."

Lee Cheol-gyu, the People Power Party member and secretary of the Industry Committee, said in a meeting with reporters after the press conference, "The Democratic Party demanded the processing of other bills along with the loss compensation law the day before," and added, "Although the urgent matter was the loss compensation law, no agreement was reached during the agenda adjustment negotiations." Kim Jeong-jae, also a People Power Party member, said, "There are 25 bills related to loss compensation submitted," and added, "A public hearing must be held before deciding, but suggesting to discuss other bills first shows a lack of sincerity in the discussion."

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