Joo Ho-young: "Moon Jae-in-style Populism Nearly Complete"... Opposition Strongly Criticizes 4th Disaster Relief Fund

"We will thoroughly review the 20 trillion won budget passed to the National Assembly"

Joo Ho-young, Floor Leader of the People Power Party / Photo by Dongju Yoon doso7@

[Asia Economy Reporter Kum Boryeong] The People Power Party has strongly criticized the 20 trillion won scale of the 4th disaster relief fund.

Joo Ho-young, floor leader of the People Power Party, stated on June 1 through his social media (SNS) Facebook, "Moon Jae-in-style populism has almost reached its final stage."

Floor leader Joo said, "Even if the opposition party says that the distribution of budget as election favors before the election is a 'violation of election law,' they don't even bat an eye," adding, "Ordinary citizens can be arrested for giving only 100,000 won of their own money during elections. Is it okay for the president to issue national bonds and distribute 20 trillion won of public money before the election?"

He continued, "Why is this administration so overflowing with confidence? It is because they firmly believe that 'Don't ask, don't question, just shut up and distribute money; the more you distribute, the more votes you get,'" and added, "There is an underlying desperation that losing power means losing everything."

Floor leader Joo also emphasized, "We will thoroughly review the 20 trillion won budget that comes to the National Assembly," stating, "With 20 trillion won, you could give 100 million won free of charge to 200,000 small business owners and merchants. It is a fund that could provide long-term low-interest loans of 100 million won each to millions of small merchants."

On the same day, Kim Eun-hye, spokesperson for the People Power Party, also criticized in a statement, "The 4th disaster relief fund, which involves 20 trillion won, is an incompetent 'by-election' support fund that wants to be both universal and selective," adding, "This government is offering a mixed porridge when an IV drip is needed."

Spokesperson Kim argued, "If it is an unfathomable 20 trillion won, it is an amount that could provide 430 trillion won in interest-free loans for one year," and claimed, "Rather than giving retroactively ineffective, nonsensical support to small business owners and self-employed people who want to do business, the government should immediately support loans."