Lee Jae-myung: "Supplementary Budget, Targeting 30 Trillion Won Before Lunar New Year... No Reason for Government to Reject"

Lee Jae-myung, the Democratic Party presidential candidate, held a New Year's press conference on the 4th at the Kia Motors factory in Gwangmyeong, Gyeonggi Province, under the theme "Vision for Korea's Great Transformation and National Leap Forward." Photo by the National Assembly Press Photographers Group

[Asia Economy Reporter Jeon Jin-young] Lee Jae-myung, the presidential candidate of the Democratic Party of Korea, said on the 4th regarding the supplementary budget bill (추경) being promoted by the Democratic Party, "It is possible to compile it before the Lunar New Year," and added, "It is right to do it as soon as possible." He anticipated a desirable scale of 25 trillion to 30 trillion won.

On the morning of the same day, during a Q&A session at a New Year's press conference held at the Kia Motors factory in Gwangmyeong, Gyeonggi Province, Candidate Lee said, "I think 25 trillion to 30 trillion won is a feasible goal."

He emphasized, "There is a huge gap between the ruling party, opposition party, and government positions on the supplementary budget," and added, "Even if (Kim Jong-in, the general election committee chairman of the People Power Party) says they will support 100 trillion won, it still falls short compared to the support other countries provided until last year."

He reiterated the nationwide disaster relief fund, saying, "What small business owners and self-employed people want is a consumption coupon called a nationwide disaster relief fund," and added, "It should be about 1 million won per person. Other countries supported about 1 million won per person the year before last."

Candidate Lee said, "I mentioned about 25 trillion won because I think at least that much should be done," and added, "We can decide specifically how to support, but it will not end with this."

Regarding the government's reluctance to compile the supplementary budget, he said, "If the government requests large-scale support including government bond issuance, there would be no reason to refuse."

In response to a question about measures to lower housing prices, Candidate Lee said, "It is important to avoid a hard landing," and added, "If prices fall sharply unexpectedly, setting a certain threshold and taking the opportunity to secure public housing would help stabilize the market."

Regarding diplomacy between the U.S. and China, he also targeted his opponent, Yoon Seok-youl of the People Power Party. Candidate Lee criticized, "Someone says that ambiguity should be avoided and one side must be chosen, but that is the most dangerous thought," and added, "It is the most submissive attitude and can only be taken by someone who lacks confidence in themselves and does not know where to go."

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