Yeo: "3rd Disaster Relief Fund to Be Selectively Distributed Before Next Year's Seol"

"Increase COVID-19 Vaccines to Cover 85% of the Population Nationwide, Up to 44 Million Doses"

Kim Tae-nyeon, floor leader of the Democratic Party of Korea, is attending and presiding over the Supreme Council meeting held at the National Assembly on the 30th. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Wondara] The Democratic Party of Korea and the government plan to selectively provide the 3rd disaster relief fund in February next year and also promote COVID-19 vaccination for 85% of the population.

Kim Tae-nyeon, the floor leader of the Democratic Party, said at the Supreme Council meeting held at the National Assembly on the morning of the 30th, "We will reflect the tailored livelihood support fund due to the 3rd wave of COVID-19 in the main budget so that it can be provided before the Lunar New Year." He added, "Since there is news of vaccine development both domestically and internationally, it is inevitable to increase the budget for securing vaccines," and said, "The Democratic Party's position is that the main budget must be increased as much as necessary to secure vaccines to the maximum extent and to accelerate the development of vaccines and therapeutics."

The Democratic Party plans to secure vaccines for 44 million people, which corresponds to 85% of the entire population. This is a significant increase from the initially planned 60%. Previously, the government reportedly submitted a budget of about 900 billion KRW for 30 million doses. Securing vaccines for 44 million people will require a budget of approximately 1.3 trillion KRW.

The 3rd disaster relief fund is expected to be provided around February next year. While the 2nd disaster relief fund, which was provided selectively, amounted to 7.8 trillion KRW, the amount currently being discussed for the 3rd disaster relief fund is about half that size. Choi In-ho, the senior spokesperson of the Democratic Party, said, "Since the opposition party is claiming about 3.8 trillion KRW, we need to take that into consideration."

Park Hong-geun, a Democratic Party member and the secretary of the Budget and Accounts Committee, told reporters, "The opposition party and the government need to negotiate about the reduction (a step before the increase) either today or tomorrow. It will definitely be done by the 2nd." He added, "Currently, the projects that need budget increases are the 3rd disaster relief fund and vaccines, totaling up to 4.9 trillion KRW, but this amount could decrease," and explained, "The situation now is different from the previous emergency disaster relief fund payment, and about 320 billion KRW has already been reflected for vaccines."

Gyeonggi Province Governor Lee Jae-myung advocates for universal payment, but the feasibility is low. Senior spokesperson Choi In-ho appeared on MBC radio that morning and said, "I believe the governor expressed his usual conviction," and drew a line by saying, "The principle of securing the budget is to ensure effective support for self-employed people, small business owners, and other groups heavily affected." He also explained, "First, we need to consider the country's fiscal capacity and negotiate and decide the budget while taking into account the opposition party's position."