Park Yong-jin "Basic Income Requires Huge Budget" Lee Jae-myung "Sufficiently Fundable"

(20th Democratic Party of Korea Presidential Primary Candidate Debate, TBC Broadcast Capture)

[Asia Economy Reporter Koo Chae-eun] On the 7th, Park Yong-jin, a member of the Democratic Party of Korea, directly criticized Gyeonggi Governor Lee Jae-myung's basic income pledge at a debate, saying, "It requires an enormous amount of finances. It's like looking in the mirror and swearing 'I can do it, I can do it'." In response, Governor Lee rebutted, "It seems you keep increasing the amount and saying that financing is difficult, but your calculation is wrong."

At the TV debate "The 20th Democratic Party of Korea Presidential Primary Candidate Debate" held at TBC Broadcasting Station that day, Park said about Lee's basic income pledge, "You say you will start from 2023, and it will cost 20 trillion won. You mentioned that there are three members in the camp who are former budget committee chairpersons, but a detailed explanation of the financing plan is necessary. I would like to suggest calmly announcing the financing plan."

Governor Lee responded, "I have already announced (the financing plan)," adding, "It seems the member does not want to listen." He further explained, "The plan is to secure 20 trillion won in the first year, which is about 3% of the general account budget, so it is quite feasible. We will raise funds through carbon tax and land holding tax, and cover some by exemptions."