[Interview] Lee Nak-yeon "The State Should Become Like a Giant Insurance Company... Basic Income Is Risky and Questionable"

Emphasizes that the Democratic Party's identity aligns with 'New Welfare'
Regarding North Korea vaccine support: "On the premise of stable domestic supply"

Former leader of the Democratic Party of Korea, Lee Nak-yeon, is explaining key pledges such as the 'New Welfare' during an interview on the 19th. Photo by Yoon Dong-ju

[Asia Economy Reporter Park Cheol-eung] Former leader of the Democratic Party of Korea, Lee Nak-yeon, emphasized strengthening the social safety net, stating, "The state should act like a giant insurance company to help citizens facing difficulties." Regarding basic income, he criticized it as a "dangerous path," saying it contradicts the 'inclusive policies' pursued since the Kim Dae-jung administration. While noting that the Ministry of Economy and Finance has become excessively large and that alternatives are being studied, he said the priority should be on the COVID-19 recovery budget.

In an interview with Asia Economy on the 19th, former leader Lee said, "European welfare states have gone through the COVID crisis without significantly changing their usual state operations because their social safety nets are well established." He emphasized, "That is the direction we should aim for, and it is the 'new welfare policy' I advocate."

He continued, "I am 100% confident that the role of firmly supporting citizens against risks that directly impact their lives, such as a pandemic, is the path the state must take."

Regarding Gyeonggi Province Governor Lee Jae-myung's basic income, which targets all citizens, he bluntly stated, "It is different from what we want to pursue." Former leader Lee said, "As former Deputy Prime Minister Kim Dong-yeon aptly put it, money goes to the rich who don't need it and is insufficient for the poor. It does not narrow the gap."

He reiterated that this does not align with the Democratic Party's traditional policy direction. He said, "Since the Kim Dae-jung administration, the consistent policy has been inclusion?giving more to the vulnerable to guarantee a minimum standard of living." He added, "Under the Moon Jae-in administration, this was upgraded with 'Moon Jae-in Care' and free high school education. We've been doing that, so how can we use money that should be spent that way to just hand out?"

He added, "The new path should improve things, but basic income is a dangerous path and puzzling."

The conflict between the ruling party, which wants to expand COVID-19 disaster relief payments, and the 'treasurer' Ministry of Economy and Finance has continued. On this, former leader Lee said, "There are criticisms that the Ministry of Economy and Finance has become too large and its authority too great due to merged functions, and alternatives are being studied." However, he made it clear that organizational restructuring is not a priority.

He said, "Right now, we must focus on responding to COVID. It is important not only for the Ministry of Health and Welfare but also financially how to supplement. Government restructuring can come later; we need to prepare the budget to activate recovery programs."

Former leader Lee introduced land-related public concept bills last month, including the introduction of a land excess profit tax targeting excessive landowners. Regarding this, he said, "In the past, Seoul had a cap of 200 pyeong (approximately 661 square meters), but the Constitutional Court ruled that was excessive. We relaxed the standard to 400 pyeong, and since this is not a prohibition on ownership but rather imposing a slightly higher burden, it should be acceptable."

He added, "While houses increase when built, land cannot be built on or increased. We must apply brakes and turn toward easing. We must prevent irreversible hereditary capitalism," and said, "It must be passed in this year's regular National Assembly session."

Former leader Lee proposed relocating Seongnam Airport and building a new city on the site, but there are questions about feasibility, including consultations with the Ministry of National Defense. He said, "This is a vision as a presidential candidate, and if elected, it becomes presidential policy. According to security experts, having a separate presidential airport is actually more dangerous."

Regarding COVID-19 vaccine support for North Korea, he said, "It depends on North Korea's willingness," adding, "Assuming stable vaccine supply domestically, support would be possible if North Korea wants it."

He also criticized leading conservative opposition candidates, former Prosecutor General Yoon Seok-youl and former Board of Audit and Inspection Chairman Choi Jae-hyung. Former leader Lee said, "They are too unprepared. I was disappointed by the awareness of those who have held high public office. It seems they have lived only within their own fortress. It is very worrisome that such people want to take responsibility for the country."

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