Kim In-ho, Chair of Seoul Metropolitan Council, "Mayor Oh Se-hoon to Closely Review Next Year's Seoul City Budget Proposal"

Kim In-ho, Chair of Seoul Metropolitan Council, on the 26th via Facebook mentioned compensation for losses of small business owners and self-employed due to earlier-than-expected cold weather, emphasizing, "Seoul's budget scale is 44 trillion won, and within this enormous budget, there is definitely a place for them. Such recovery budgets must rightfully be the top priority."

[Asia Economy Reporter Park Jong-il] Kim In-ho, Chairman of the Seoul Metropolitan Council, mentioned compensation for losses of small business owners and self-employed workers due to the cold weather arriving earlier than expected through Facebook on the 26th, emphasizing, "The Seoul city budget is 44 trillion won, and within this enormous budget, there is definitely a place for them. Such recovery budgets should rightfully be the top priority."

Chairman Kim said, "Cold winds have started to blow in the mornings and evenings. As the temperature drops, concerns grow. I worry that the cold, arriving earlier than expected, might make the already weary hearts of citizens even colder."

He continued, "In the past year alone, 250,000 self-employed business owners have closed their doors, increasing their debts without income. This means one out of every twenty self-employed people has shut down their business. For them, there is no immediate way to sustain their livelihood or to repay the debts they have accumulated; all seems out of reach."

Chairman Kim stated, "President Moon Jae-in mentioned compensation for losses of small business owners and self-employed workers in his recent National Assembly policy speech. It involves legally compensating the affected industries that suffered economic losses due to business restriction measures. However, gaps still exist. There are concerns whether the supplementary budget for loss compensation can adequately cover the total losses. Additionally, some affected industries were excluded from this loss compensation law support. Self-employed workers isolated in these blind spots of support will suffer even greater feelings of deprivation."

He added, "Seoul must not turn a blind eye to this. Compared to other regions, Seoul has implemented business restriction measures for a longer period. As the place where the largest number of small business owners and self-employed workers live, it has suffered the most damage. Even among those who cannot receive help in this support, the majority are in Seoul," emphasizing, "Seoul must share their difficulties and convey hope."

Chairman Kim said, "Since the next year's budget formulation is not yet finalized, measures must be prepared for the affected industries left in the blind spots. The Seoul city budget is 44 trillion won, and within this enormous budget, there is definitely a place for them. Such recovery budgets should rightfully be the top priority. Preparing for the new phase of 'With Corona' without active encouragement and support toward recovery is impossible."

He also stated, "Mayor Oh Se-hoon, the Seoul Metropolitan Council will scrutinize next year's budget proposal more thoroughly than ever. We will examine how meticulously the measures for COVID-19 prevention and livelihood recovery have been prepared. And we will verify how actively and inclusively these measures are incorporated."

"The will of the Seoul Metropolitan Council is strong. It is as passionate as the tears shed by small business owners and self-employed workers so far, and as heavy as the debts they will have to bear in the future. We hope Seoul city will show that it is cooperating solely for the citizens with the same heart as the Seoul Metropolitan Council. We will wait," he concluded.