[Asia Economy Reporter Kwangho Lee] Prime Minister Chung Sye-kyun emphasized the need to strengthen the social safety net on the 26th, stating, "The novel coronavirus disease (COVID-19), which has been rampant for seven months, has changed the lives of the people, and especially dealt much greater social and economic shocks to the marginalized and vulnerable."
Prime Minister Chung made these remarks at the 22nd Social Security Committee held at the Government Seoul Office on the same day.
He expressed concern, saying, "While total earned income in the second quarter decreased by 5.3% compared to the same period last year, the earned income of the bottom 20% low-income group fell by as much as 18%. This threatens the robust social safety net we have built."
Although mentioning the government's efforts such as the provision of emergency disaster relief funds and emergency employment stabilization subsidies, Prime Minister Chung diagnosed, "The government and local governments are making multifaceted efforts to help the vulnerable regain their daily lives, but there are practical limitations."
At the Social Security Committee held that day, the 'Social Security Special Support Zone Project Implementation Plan' to be carried out over the next three years and the '4th Medium- to Long-term Social Security Financial Projection' were reviewed and approved.
Additionally, the '4th Community Social Security Plan 2020 Implementation Plan' and the '2018 Evaluation Results of Community Social Security Plan Implementation by City and Province' for promoting community social security were also discussed.
Before the meeting, Prime Minister Chung presented appointment letters to the private members of the 4th Social Security Committee. The private members total 13 people, including Sohn Kyung-shik, Chairman of the Korea Employers Federation.
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