Noh Hyung-wook, Director of the National Office for Disaster Management, "Considering Presidential Emergency Orders as a COVID-19 Measure"

Noh Hyung-wook, Director of the Office for Government Policy Coordination

[Asia Economy Reporter Kwangho Lee] On the 20th, Noh Hyung-wook, Minister of the Office for Government Policy Coordination, revealed that President Moon Jae-in is also considering invoking the constitutional 'Emergency Financial and Economic Command' to respond to the spread of the novel coronavirus infection (COVID-19).

At the Political Affairs Committee briefing held at the National Assembly that day, Minister Noh responded to a question from Min Byung-doo, chairman of the committee from the Democratic Party of Korea, who asked about the possibility of the president issuing an emergency order, saying, "Self-employed people have reached a situation where they cannot pay rent, management fees, or employee salaries."

Minister Noh said, "It is a difficult situation where we must simultaneously carry out thorough quarantine measures for public safety and minimize the economic impact," adding, "To minimize the economic impact, we have already announced urgent measures for the immediate needs."

He continued, "We are also considering comprehensive measures to boost the overall economy, including the proposals suggested by the chairman," and added, "We expect to be able to announce them as early as this month."

Regarding the mention of supplementary budget formulation, he said, "Even without going to a supplementary budget, I believe we currently have sufficient means and resources," and added, "There are various scenarios whether this situation will end soon or become prolonged, so it is important to gather and implement all possible measures first."

Minister Noh also hinted that a complete ban on entry of Chinese nationals could be considered depending on the progress of the COVID-19 situation. In response to a question from Democratic Party lawmaker Kim Byung-wook, he said, "We are keeping all possibilities open and will act according to the situation," adding, "There is no predetermined answer regarding diseases; we find the best solution according to each situation."

Regarding the criteria for a full ban, he explained, "It should take into account situations such as a significant spread or severity of the outbreak within China or an increase in the number of entrants from China," and added, "For companies, since materials and parts are interconnected, there are difficulties when parts procurement from China is disrupted, so these situations must be comprehensively reviewed."

In response to a question from Yoo Ui-dong of the United Future Party about expanding the foreign entry ban to all regions of China, he replied, "We are closely monitoring the situation but are not currently considering expansion."

Meanwhile, the Office for Government Policy Coordination issued a reference statement regarding the report that the president is considering invoking the emergency financial and economic command, stating that it is "not true."

The office explained, "Minister Noh's response was intended to convey that all possible measures are being reviewed to minimize the economic impact of COVID-19 and to prepare comprehensive extraordinary measures to revive the economy, including investment and consumption activation, and he did not mention the emergency financial command at all."

Regarding the supplementary budget formulation plan, they added, "The response was that it is preferable to first consider all available means at this stage rather than reviewing a supplementary budget at this time."