野 "Government and Ruling Party's Loss Compensation Law is Fake Loss Compensation... Loss Compensation Before Subsidies"

[Asia Economy Reporter Naju-seok] The Small and Medium Venture Business Subcommittee of the People Power Party's Industry, Trade, Small and Medium Venture Business Committee criticized the government's ruling party's announced Loss Compensation Act as "fake loss compensation."

On the 8th, the People Power Party's Small and Medium Venture Business Subcommittee strongly urged, "We strongly urge the government and ruling party to review the Loss Compensation Act promptly with a principled and sincere attitude," and pointed out, "The content announced yesterday through the government and the Democratic Party's party-government consultation is, in a word, fake loss compensation."

They mentioned, "It is merely a political decision that gave false hope to small business owners who have been eagerly waiting for compensation for damages caused by the COVID-19 crisis."

The People Power Party's Small and Medium Venture Business Subcommittee introduced the fact that President Moon Jae-in gave instructions to review loss compensation earlier this year and that lawmakers from the Democratic Party expressed support for retroactive application through the Loss Compensation Act, then criticized, "Even this was flipped over like turning the palm of a hand."

They criticized, "They pretended to compensate for damages caused by government administrative orders but later decided to settle with a belated benevolent consolation payment," and added, "They only responded to public opinion according to the situation each time, merely imitating loss compensation."

The People Power Party's Small and Medium Venture Business Subcommittee demanded the immediate introduction of retroactive application for small business owners and called for listening to the opinions of all small business owners affected not only by administrative orders but also by COVID-19, to provide customized damage support by industry.

They said, "We hope that the 32 trillion won in tax revenue expected to be collected will be used urgently for livelihood issues such as loss compensation without political considerations," and strongly urged, "We strongly urge abandoning the political strategy of providing subsidies and choosing to introduce ‘loss compensation’ instead."

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