People Power Party Fresh Lawmaker: "Loss Compensation Retroactive Application Must Be Handled in April National Assembly"

First-term lawmakers of the People Power Party are holding a meeting at the National Assembly in Yeouido, Seoul on the 14th. (Photo by Yonhap News)

[Asia Economy Reporter Kum Bo-ryeong] The first-term lawmakers of the People Power Party insisted that the Small Business Loss Compensation Act, which includes retroactive application, must be passed in the April National Assembly session.

On the 15th, all 56 first-term lawmakers of the People Power Party stated in a press release, "In this April extraordinary session, the Loss Compensation Act reflecting retroactive application must pass the plenary session. We urge both ruling and opposition parties to demonstrate cooperation in the face of the cries of ordinary citizens."

They emphasized that they welcome the intentions of the first-term lawmakers of the Democratic Party of Korea who advocated for retroactive application of the small business loss compensation system due to COVID-19 quarantine measures.

Furthermore, the first-term lawmakers of the People Power Party appealed to the floor leaders of both parties and the government, saying, "We ask the floor leaders of both parties to promptly reach a broad agreement so that the livelihood of the people can sail smoothly like a ship with a favorable wind, and to lead the National Assembly accordingly," and added, "The government must support the citizens who suffered damage through national administrative orders, including retroactive application when applying loss compensation."