Yoon's First Site Visit Is a Traditional Market... Focus on 'COVID-19 Policy'

COVID-19 Compensation and Damage Response Solutions Expected
Merchants Mixed Feelings Over 10 Million Won Support

President-elect Yoon Suk-yeol / Photo by National Assembly Press Photographers Group

[Asia Economy Reporters Bomryeong Geum, Hyunji Kwon] President-elect Yoon Seok-yeol met with traditional market merchants on the 14th as his first official external schedule after the election. This is interpreted as a gesture to console small business owners and self-employed individuals who suffered great damage due to COVID-19 and to focus on policies for them.

On the day, after having a tea meeting with Ahn Cheol-soo, chairman of the Presidential Transition Committee, and Kwon Young-se, vice chairman, at the Financial Supervisory Service Training Institute in Tongui-dong, Seoul, where his office was set up, Yoon visited a traditional market in Seoul to hold a luncheon event combined with a meeting with merchants.

At this event, he plans to present the Yoon Seok-yeol administration’s prompt intention for COVID-19 loss compensation and damage response measures. Spokesperson Kim Eun-hye explained, "At the meeting with the merchants, he will listen carefully to the difficulties faced by small business owners and the self-employed."

Since COVID-19 response was a major focus during the election process, this is seen as a continuation of that effort. Among the top 10 pledges Yoon made as a candidate, "Overcoming COVID-19, recovery and leap forward" was ranked first. The main contents include "saving small business owners and the self-employed" and "strengthening infectious disease response systems."

The merchants also expressed their expectations ahead of the meeting. Moon Nam-yeop, chairman of the Namdaemun Market Merchants Association, who will have a meeting with President-elect Yoon, said in a phone interview with Asia Economy, "There are many urgent market issues related to COVID-19, and I plan to talk about the most urgent ones first," emphasizing, "I will explain the market parking lot installation issue and the easing of redevelopment restrictions." He added, "Because of COVID-19, customers have decreased significantly, so business is not going well for everyone, and many vacant stores are increasing. This problem needs to be resolved quickly."

Regarding Yoon’s pledge to provide 10 million KRW support to small business owners, Moon expressed both concerns and expectations. He said, "We think it is still not enough, but it would be good if as much compensation as possible is given to the merchants," adding, "Even within Namdaemun Market, some self-employed people receive it and some do not. I hope it will be distributed fairly without excluding anyone."

The day before, when announcing the transition committee appointments, Yoon said about the "10 million KRW support pledge for small business owners," "The basic amount will be around 10 million KRW," and added, "We are preparing by setting various criteria for loss details and quantifying and grading them."

Yoon showed special interest in COVID-19 response by separately establishing a "COVID-19 Crisis Response Special Committee" within the transition committee and having Ahn Cheol-soo serve concurrently as the committee chairman. He considered Ahn, who has experience as a doctor and scientist, suitable for resolving these issues. Regarding this, spokesperson Kim said, "This reflects the president-elect’s intention to focus on compensation for the people suffering from COVID-19 and on medical and quarantine issues immediately after the election."

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