Lee Jae-myung "Economic Decline, Government Policy Direction Must Be Completely Changed... 35 Trillion Won Supplementary Budget Needed"

"Restoring Livelihoods, Economic Leap, and Protecting Vulnerable Groups
Must Solve Three Major Tasks"

Lee Jae-myung, leader of the Democratic Party of Korea, reiterated on the 27th that an additional supplementary budget (supplementary budget) worth a total of 35 trillion won must be prepared to restore the livelihood economy, promote economic leap, and protect vulnerable groups.

[Image source=Yonhap News]

At the party meeting held at the National Assembly that day, Lee said, "While the global economy is gradually recovering from the recession, only South Korea is continuously falling," adding, "The government's wrong policy direction must be completely changed before it is too late." He continued, "I have repeatedly said that the first step is the supplementary budget," and "I earnestly request the government and the ruling party again. The ruling and opposition parties must work together for the prompt preparation of the supplementary budget."

On the same day, the Democratic Party disclosed its own supplementary budget plan through a press reference material, allocating 30 trillion won for the 'Livelihood Recovery Project' and 5 trillion won for 'Economic Recovery and Support for Vulnerable Groups.'

For the Livelihood Recovery Project, measures include ▲expanding credit loans for low-credit borrowers and reducing interest for small and medium-sized enterprises and self-employed persons to recover from high-interest damage ▲relief of high prices and energy charges including energy price support funds and agricultural heating costs ▲housing stability measures such as interest support for jeonse deposits.

Economic Recovery and Support for Vulnerable Groups include ▲economic recovery areas such as SOC infrastructure investment for economic recovery ▲support for vulnerable groups such as expanding welfare for low-income groups and strengthening public safety.

Lee added, "The supplementary budget for livelihood recovery to solve high prices, high interest rates, and housing instability, the supplementary budget for economic leap to secure future growth engines and revitalize the economy, and the supplementary budget for vulnerable groups to protect ordinary people from the economic crisis are urgent."

Lee said, "The pain of the livelihood economy has reached the brink," and "The government must keep in mind that neglecting this situation is not only irresponsible but also dereliction of duty."

He continued, "The owners of the finances are the taxpayers, the people, not a specific regime or the Ministry of Economy and Finance. If the livelihood economy is desperate and difficult, but the government ignores it and just locks the treasury doors, it will be difficult to avoid public criticism asking why taxes should be paid." He added, "Let us unite the ruling and opposition parties to solve the 'three major tasks' of livelihood recovery, economic leap, and protection of vulnerable groups through the prompt preparation of the supplementary budget. I urge the president and the ruling party to make a magnanimous decision."

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