Song Young-gil "Households are struggling, let's discuss support funds"… Lee Jun-seok "Isn't there money in the market? Let's adjust real estate tax system"

[Asia Economy Reporter Naju-seok] Regarding the nationwide disaster relief fund payment, the leaders of the ruling and opposition parties expressed completely different positions. Song Young-gil, leader of the Democratic Party of Korea, mentioned the difficult household circumstances and stated that he would review the matter with the financial authorities. On the other hand, Lee Jun-seok, leader of the People Power Party, raised doubts about the effectiveness of financial support at this point, citing the current With-Corona situation.

[Image source=Yonhap News]

In a dialogue between the ruling and opposition party leaders held on the 3rd on SBS broadcast, Leader Song said, "Our households are in great difficulty," adding, "The country has debt, but household debt exceeds nearly 90%. There is a saying that if the country does not take on debt, the people end up in debt." He also criticized the previous disaster relief fund payment, which was given to 88% of the total population rather than the entire population, and expressed his intention to push forward by saying, "The ruling and opposition parties will put their heads together and pool wisdom."

Regarding Prime Minister Kim Boo-kyum's reluctance due to funding issues, Leader Song said, "I will consult with Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki once he returns to the country." Concerning Democratic Party presidential candidate Lee Jae-myung's push for additional nationwide disaster relief fund payments, Song said, "It is not the Lee Jae-myung government now," and added, "I will consult with Deputy Prime Minister Hong of the Moon Jae-in government, respect the candidate's intentions, and gather wisdom."

Leader Lee raised questions about the effectiveness of disaster relief fund payments, citing the With-Corona situation. He said, "Several disaster relief funds have been paid so far, but it has shown mixed patterns as to whether it was to stimulate consumption or to help those in difficulty," adding, "If it is to stimulate consumption, was the consumption slump due to a lack of money in circulation? The actual environment was one where business restrictions made it difficult to spend money even if people wanted to."

[Image source=Yonhap News]

He pointed out, "Many people are already eager to go on delayed trips or gatherings," and said, "The situation now may be different from when the disaster relief fund was first discussed." Regarding this year's excess tax revenue, he said, "It is necessary to consider whether it is appropriate to readjust real estate taxation and reassess official land prices."

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