Ahn Cheol-soo: "Nationwide Disaster Relief Fund Could Lead to a National Disaster"

"When Business Restrictions Are Imposed, Compensation for Losses Must Be Enforced"

[Image source=Yonhap News]

[Asia Economy Reporter Naju-seok] Ahn Cheol-soo, leader of the People’s Party, warned on the 6th that "the nationwide disaster relief fund could lead to a national disaster."

Regarding the nationwide disaster relief fund, which begins distribution today, Ahn said, "Although the top 12% are excluded, it is practically close to a nationwide disaster relief fund," issuing this warning.

He pointed out, "The problem is that the COVID-19 disaster is not over yet," adding, "According to experts, unfortunately, there is a warning of a possible fifth wave of COVID-19 this winter." Ahn criticized, "With indiscriminate cash handouts to all citizens appearing like a panacea during each pandemic wave, South Korea’s finances have become not only depleted but deeply indebted," and remarked, "South Korea has become a ‘Cheonjo-guk’ (a country with a trillion won debt)."

Ahn stated, "If this continues, the debt that the younger generation and even future babies not yet born will have to bear will increase exponentially," and warned, "If the debt to be repaid exceeds the inheritance, children may renounce inheritance. This means South Korea would go bankrupt."

He also emphasized the need to strengthen support for groups affected by quarantine measures. Ahn criticized, "The current indiscriminate cash handout policy, like ‘urinating on frozen feet’ (a temporary fix), is not sustainable and does not significantly help small business owners who are truly suffering from the disaster," adding, "Providing disaster relief funds to those whose income has not changed or has even increased during the disaster is not disaster relief."

In this regard, he also expressed his intention to pass a bill (proposed by Representative Choi Yeon-sook) mandating compensation for losses when business restrictions are imposed during this year’s regular National Assembly session.

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