Support Grows for Lee Jae-myung's 'Basic Income with Expiring Local Currency Payment'

"77% Cut in MOEF Budget for Local Currency Issuance Support Is a Typical Desk Administration"

[Asia Economy (Suwon) = Reporter Lee Young-gyu] The number of local small business owners and self-employed people supporting the pledge of Gyeonggi Province Governor Lee Jae-myung, a leading presidential candidate within the Democratic Party of Korea, to provide "basic income through extinguishable local currency" is increasing.

The chairpersons of self-employed and small business organizations in the Daegu and Gyeongbuk regions issued a statement on the 6th condemning the government's announcement to drastically cut the national budget for local currency issuance support next year, and collectively expressed support for Lee Jae-myung's pledges of "basic income through extinguishable local currency" and "granting the right to form associations and negotiate to affiliated small business owners."

At the meeting, about 40 people attended, including Ha Seung-jae, co-chairman and executive director of the National Franchisee Council; Kwon Tae-yong, chairman of the National Missha Franchisee Council; Lee Jung-hee, chairman of the National Paris Baguette Council; Kim Ik-soo, chairman of the National Aritaum Council; Choi Jong-ryeol, chairman of the National CU Council; Lim Won-young, CEO of Hollys Coffee Dongdaegu Station Branch; Kim Soon-jong, chairman of the Large Store Entry Store Owners Council; Kim Bok-soo, chairman of the National Visiting Care and Bathing Institutions Association and branch chairpersons; and Hong Bok-jo, Dalseo District Council member.

The chairpersons strongly condemned the Ministry of Strategy and Finance's unrealistic desk-bound administration, saying, "Despite the COVID-19 situation resembling a battlefield, the local currency issuance support budget of 1.1 trillion won this year, which has been a ray of hope for countless self-employed and small business owners nationwide, is planned to be cut by more than 77% to 200 billion won next year."

They added, "We actively support Lee Jae-myung's verified livelihood policy of 'basic income through extinguishable local currency' and the livelihood pledge guaranteeing 'the right to form associations and negotiate collectively' to socioeconomically vulnerable groups such as franchisees and small business owners."

Earlier, the Gyeonggi Province Merchants Association and small business organization chairpersons also issued a statement on the 16th of last month in front of the main gate of the Gyeonggi Provincial Council in Suwon, welcoming Governor Lee Jae-myung's decision to provide 250,000 won per person in disaster basic income to all Gyeonggi residents through extinguishable local currency.

In the statement, the chairpersons emphasized, "The disaster basic income paid through local currency, which has restrictions on usage locations and periods, will greatly revitalize traditional markets and neighborhood commercial districts, the capillaries of the local economy," and "We are direct witnesses who have experienced and felt how much vitality the disaster basic income paid twice last year and this year to all residents has brought to traditional markets and neighborhood commercial districts."

Meanwhile, Governor Lee Jae-myung lamented on Facebook on the 3rd, when the government drastically cut the local currency issuance support budget, saying, "The 2022 government budget plan was announced, and the budget for supporting the issuance of local love gift certificates has been reduced by 77.2%, from 1.0522 trillion won this year to 240.3 billion won," adding, "For self-employed people barely surviving the COVID-19 economic downturn, the cut in the local currency budget is like a bolt from the blue."

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