[Asia Economy Reporter Jeon Jin-young] Kim Bu-gyeom, a former lawmaker running as a candidate for the Democratic Party of Korea's August 29 leadership election, stated that if social distancing is raised to Level 3, the payment of a second disaster relief fund will be inevitable.
On the morning of the 23rd, Kim said on Facebook, "If Level 3 social distancing is announced, there will be too many people facing immediate livelihood difficulties. Not only daily life but also the economy, which has barely recovered, will come to a halt."
He emphasized the necessity of the second disaster relief fund, saying, "(If raised to Level 3) multi-use facilities such as PC rooms and karaoke rooms will close, restaurants and taxis will have no customers, and farmers who have barely endured the long rainy season will be unable to find sales channels. Academy instructors, home tutors, tourism, and transportation workers will face crisis again."
As a method, he urged that the disaster management funds, which are supposed to be prepared by local governments, be established as a national-level fund. Kim said, "We need to examine more closely how to secure the resources. I think it is appropriate to separately accumulate a 'disaster fund.' It is not feasible to keep taking from the general accounts every time. I hope the establishment of a 'national disaster fund' is legislated this time."
He continued, "Currently, the 'disaster management fund' for bearing the costs of disaster prevention and recovery is accumulated by metropolitan and local governments. In the era of climate crisis, it is right for the state to accumulate the 'statutory mandatory fund.' Instead of creating new tax items, the fund can be accumulated by reducing unnecessary and less rational tax credit items. Before the fund is established, bonds will have to be issued, but once the fund is established, it can be repaid from there," he explained.
Kim added, "If the opinions of quarantine experts converge on 'raising to Level 3,' the government and political circles should follow. We must ensure that quarantine and support work together to overcome the upcoming crisis."
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