President Moon: "'9.3 Trillion Won' 3rd Disaster Relief Fund to Be Swiftly Executed in January Next Year" (Update)

Opening Remarks at the 63rd State Council Meeting

President Moon Jae-in is speaking at the Cabinet meeting held at the Blue House on the morning of the 29th. 2020.12.29 [Image source=Yonhap News]

[Asia Economy Reporter Son Sun-hee] President Moon Jae-in said on the 29th, "The government has decided to swiftly provide the third disaster relief fund amounting to 9.3 trillion won to protect the lives of citizens facing crisis," adding, "Since time is of the essence, we will promptly execute it starting early January next year."

On the same day, President Moon presided over the year's final Cabinet meeting via video at the Blue House and stated, "This is a tailored damage support measure to protect small business owners and vulnerable employment groups affected by the COVID-19 situation and government quarantine measures." He further explained, "We will provide 1 million won uniformly to small business owners and self-employed individuals who have suffered direct damage, and to reduce the burden of rent, we will provide additional direct support of 1 million won or 2 million won depending on the degree of business restrictions."

He also said, "To further ease the rent burden on small business owners, we will support low-interest loans, expand good incentive programs, and implement measures to reduce various insurance premium burdens," emphasizing, "We will provide emergency liquidity and utilize all possible fiscal policy tools, including separate income stabilization support payments for special employment workers, freelancers, and workers in visiting and care services."

Reflecting on the Cabinet meeting held for the last time this year, President Moon addressed the Cabinet members attending via video, saying, "This has been a year of unprecedented crisis due to the global COVID-19 pandemic," and praised, "I sincerely thank all public officials who dedicated themselves to overcoming this crisis."

President Moon stated, "Our immediate goal is to become a model country for overcoming COVID-19, equipped with all three elements: exemplary quarantine measures, vaccines, and treatments," adding, "Another major task ahead of us is the rapid economic recovery and resolving the inequalities exacerbated by COVID-19." Looking back on the government's 310 trillion won scale livelihood support policies implemented this year, including the first-ever four supplementary budgets and disaster relief funds for all citizens, he pledged, "We will focus even more on expanding safety nets and closing COVID-19 gaps to steadily advance toward an inclusive welfare state."

However, he noted, "The war against COVID-19 is not over yet, and the difficulties in people's livelihoods continue," urging, "In the new year 2021, I hope everyone will exert greater strength with stronger responsibility and extraordinary determination to overcome the national crisis and achieve Korea's leap forward." He also addressed the public, saying, "The government will do its best to protect the lives of the people," and encouraged, "I hope the citizens will not lose hope and find courage despite the hardships."