Hwang Kyo-ahn: "Specific Plans for 40 Trillion Won National Bonds Will Be Delivered Through Consultative Body"

[Image source=Yonhap News]

[Asia Economy Reporter Kim Hye-min] Hwang Kyo-ahn, leader of the United Future Party, announced on the 26th that he would concretize a proposal to issue bonds worth 40 trillion won to support small business owners struggling due to the COVID-19 pandemic and deliver it to President Moon Jae-in.

After announcing the 'Senior Welfare Pledge' at the entrance of Jongmyo Square Park in Jongno on the same day, Hwang told reporters, "The party has prepared concrete measures," adding, "If a necessary consultative body is established through communication, we will deliver these measures."

When asked whether the necessary consultative body would be a summit meeting, he emphasized, "There is no need to go as far as a summit meeting; it would be sufficient for working-level officials to come together," and added, "We will strive to make it a reality."

Earlier, Hwang, along with joint election committee chairmen Shin Se-don and Park Hyung-joon, proposed raising 40 trillion won by issuing bonds with a three-year maturity and an annual interest rate of 2.5%, using idle funds as the source. This is a COVID-19 recovery plan to directly support small business owners with up to 10 million won.

Regarding this, President Moon reportedly said on the same day, "If specific measures are presented, I will consider them," according to a briefing by Blue House spokesperson Kang Min-seok.

On the division of roles with Kim Jong-in, former leader of the Democratic Party's Emergency Committee, whose recruitment was confirmed that day, Hwang said, "Kim and I will jointly serve as general election headquarters chiefs," adding, "He is regarded as a wise economic expert of this era. We expect to provide the public with a refreshing economic vision."