Disaster Relief Fund 'On Hold' Lee Nak-yeon: "What Will Happen to COVID-19 If People Spend Money by Going Out?"

[Image source=Yonhap News]

[Asia Economy Reporter Wondara] Lee Nak-yeon, a member of the Democratic Party and candidate for the party leadership, said regarding the discussion on the second disaster relief fund, "Since we have no choice but to go into debt, we must be serious about protecting the treasury." He also expressed concern, saying, "If we actually give out money and people go out to spend it, what will happen to COVID-19?"

On the 26th, in a phone interview with KBS Radio, when asked, "What do you think about the second disaster relief fund?" Lee said, "The situation now is very different from when the disaster relief fund was given this spring. Fundamentally, this spring, the disaster relief fund was provided by reallocating spending within the existing budget, pulling money from here and there." He added, "Now, the funds are completely depleted. Since we have no choice but to go into debt, we must think much more seriously about protecting the treasury."

He explained, "If the disaster relief fund is used but the situation worsens, what will we do then? And if the situation escalates further, it might become a state that cannot be resolved by disaster relief funds." He continued, "Considering such possibilities, it is not right to first argue about the method or amount of the disaster relief fund."

Regarding Gyeonggi Province Governor Lee Jae-myung and Democratic Party leadership candidates Park Joo-min and former member Kim Boo-kyum advocating for payments to all citizens, Lee pointed out, "The intention is to revive consumption that has been severely depressed, but if we actually give out money and people go out to spend a lot, what will happen to COVID-19? Such concerns are natural." He added, "I think now is not the time to get caught up in such debates. Rather than spending energy on such controversies, it is more appropriate to strengthen quarantine measures to avoid moving to level 3 and minimize damage."

Regarding the formulation of the 4th supplementary budget, he said, "Whether it is appropriate to go into debt again for the supplementary budget, and whether this will be the last time, no one knows for sure yet. Let's observe a little more and then make a judgment."

Earlier, on the 24th, through a Facebook post titled 'Position on Disaster Relief Funds,' Lee stated, "Now is the time to focus on overcoming COVID-19," and said, "I hope the discussion on disaster relief funds can be postponed after focusing as much as possible on quarantine measures until the end of this week." Regarding the recipients, he said, "I think it is right to provide differentiated support that helps those in difficulty more substantially."

Meanwhile, regarding the forecast of the COVID-19 spread, Lee said, "There was a rally in Gwanghwamun on the 15th, and considering the COVID-19 incubation period is 14 days, the peak is expected around this weekend." He added, "If we get past this weekend, there is a possibility we might avoid moving to level 3." On the government's real estate measures, he said, "It is clearly confirmed that the upward trend has slowed down. I believe we are on the path to stabilization." He continued, "Regarding the jeonse and monthly rent issues, since there have been significant changes in the system, there seem to be some related aspects. We need to look into them carefully and work towards stabilization."