Promotion of Institutionalizing COVID-19 Support Funds... Jeong Sye-gyun "Government Proposal to be Submitted Within the First Half of the Year"

Prime Minister Jeong Sye-gyun / Photo by Jin-hyeong Kang aymsdream@

[Asia Economy Reporter Son Sun-hee] The government plans to institutionalize support funds for businesses subject to closure or restrictions that have suffered losses due to government quarantine measures related to the novel coronavirus infection (COVID-19). The related government proposal is expected to be submitted as early as the first half of the year.

On the 20th, Prime Minister Chung Sye-kyun said in an interview with MBC Radio's 'Kim Jong-bae's Focus' regarding COVID-19 related support funds, "It is necessary to organize laws and systems to prepare for situations like this (COVID-19, etc.)," adding, "We intend to do our best to ensure that efforts to improve the system can yield results, preferably within the first half of the year."

However, Prime Minister Chung clearly stated that the budget nature is 'support funds' rather than compensation. In response to calls from some quarters demanding 'loss compensation' for business damages caused by government quarantine measures, he said, "I agree with the intent, but even for natural disasters, the government does not compensate but provides 'support' through a system," drawing a line by saying, "This situation is different from natural disasters."

Last year, the government supported self-employed people affected by COVID-19 through four supplementary budgets?the first time ever within a year. However, as the pandemic situation lasted longer than expected and extended into the third wave, voices have been raised calling for legal institutionalization rather than temporary support.

Prime Minister Chung said, "The government cannot execute the budget without grounds," and added, "I believe that the government, together with the National Assembly, should create systems and legislation so that in such cases, there is a legal way to compensate the people." He also revealed that such discussions have taken place during weekly meetings with President Moon Jae-in, stating, "There is already a consensus with President Moon," and emphasized, "We will actively promote the institutionalization of this matter going forward."

Meanwhile, when asked about his intention to run for the next presidential election, Prime Minister Chung said, "I am a politician. Naturally, I will return to politics." However, he added, "Currently, I am fighting COVID-19 and dedicating myself to this work, so I am not in a position to talk about what I want to do next."