Lee Jae-myung "Land Rent Reform Recovery Difficult" Chu Mi-ae "Basic Income Unstable"

[Image source=Yonhap News]

[Asia Economy Reporter Jeon Jin-young] On the 1st, ruling party presidential candidates Lee Jae-myung, Governor of Gyeonggi Province, and former Minister of Justice Chu Mi-ae engaged in a debate over their representative pledges: basic income and land rent reform. Lee said that land rent recovery is practically difficult, while Chu viewed basic income as unstable due to its lack of income substitution.

During a one-on-one TV debate for presidential candidates hosted by OhmyNews, Lee said, "Land rent recovery is practically difficult. The calculations are not easy either." He added, "Wouldn't it be better to boldly impose land holding taxes at the level of advanced countries?"

In response, former Minister Chu said, "Haven't you listened to other candidates' debates?" and explained, "The land rent reform I am talking about is about implementing reasonable and fair taxation, and I intend to introduce a similar concept of a national land holding tax."

When Lee said, "Then it is the same as my basic income," Chu drew a line, saying, "The purpose is different. I am not talking about basic income but about fundamentally blocking speculative unearned income from real estate."

Chu countered, "If it is income, it should have income substitution, but basic income cannot be considered to have income substitution." She added, "Since it cannot be guaranteed regularly, I plan to give every citizen 1 million won per year for three years during job preparation, career transition, and old-age security periods as an industrial tax allowance."

Lee responded, "That's a good idea. But the problem is the funding," and said, "I am a pragmatist, so even if it is insufficient, I try to do as much as possible in the current situation. Just as health insurance became the world's best system in 40 years, I am confident that basic income will be an alternative in an era when jobs disappear."

Former Minister Chu added, "If the national land holding tax is used as funding with a tax rate of about 0.5%, 30 trillion won can be collected, so there is no need to worry about the funding of my pledge."

The two also discussed prosecutorial reform during the debate. Chu said, "I demand a clear stance on prosecutorial reform here." Lee said, "Since I am not a member of the National Assembly, it is difficult, but I am telling the camp's lawmakers that separation of investigation and prosecution is really necessary," adding, "However, isn't the government's position, including the president, to adjust the speed?"

Then Chu said, "Why does it seem like the Blue House is talking about adjusting the speed? That is because it is being misunderstood," emphasizing, "In fact, media reform and prosecutorial reform are about restoring the system so that I can perform my role. I carefully revised the investigation rules and adjusted the investigative authority between the police and prosecution early in my term as Minister of Justice to prevent concerns about speed adjustment."

She then urged Lee, "Since you promised the people directly, please ask the lawmakers for cooperation and signatures."

Lee said, "Illegal investigations and excessive investigations aimed solely at prosecution should not happen. Acts aimed solely at prosecution are unacceptable. I hope the lawmakers will unite their strength."

Chu criticized, "Separating investigation and prosecution within the same prosecution office is prosecutorial logic. I hear you say you will surpass 50% support in the first round without a runoff, and you swept all my votes. If you are obsessed with approval ratings, even if you become president, you will do nothing but manage approval ratings."

Lee replied, "I never said I would surpass 50%. I just do my best."

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