Ruling Party Supports "Significantly Expanding Support for Small Business Owners and Self-Employed"
Supplementary Budget Expected to Be Passed Around July 10-11
Lee Jae-myung, the Democratic Party presidential candidate, is attending the emergency inspection meeting of the COVID-19 Crisis Response Special Committee titled "K-Quarantine! Evolving One Step Further with Scientific Quarantine" held at the National Assembly on the 21st, delivering opening remarks. Photo by Yoon Dong-joo doso7@
[Asia Economy Reporter Koo Chae-eun] As the government approved a supplementary budget of 14 trillion won on the 21st, Lee Jae-myung, the Democratic Party of Korea's presidential candidate, made a sudden proposal for an 'emergency meeting among presidential candidates' along with an increase to 35 trillion won.
On the morning of the same day, Lee held an emergency press conference at the National Assembly and proposed an emergency meeting among all presidential candidates from both ruling and opposition parties to discuss the supplementary budget aimed at supporting small business owners and self-employed individuals, suggesting that the 35 trillion won supplementary budget proposed earlier by the People Power Party be put on the agenda.
He said, "I propose an emergency meeting to all presidential candidates so that 35 trillion won can be quickly secured as resources for the next government without burdening the current government, enabling prompt support for small business owners and self-employed individuals."
He added, "To reduce the burden on the government, it will be possible to urgently secure 35 trillion won in supplementary budget resources through adjustments in project budgets under the condition that the candidates who will have authority over budget execution in the second half of the year take responsibility. This can be achieved through a clear multilateral meeting and agreement."
Targeting Yoon Seok-youl, the People Power Party's presidential candidate, he said, "If he has affection for the people and sincerity regarding the survival and stability of the nation, he will never refuse," adding, "If time is short, just clearly indicating agreement will be sufficient."
The party leadership is also lending support. Yoon Ho-jung, the floor leader, said at an emergency inspection meeting of the COVID-19 Crisis Response Special Committee, "Support for small business owners and self-employed individuals must be greatly expanded," and added, "To protect both people's livelihoods and quarantine efforts, the supplementary budget must be promptly processed to protect small business owners and the self-employed."
The Democratic Party is considering convening a special session of the National Assembly in February to approve the supplementary budget between the 10th and 11th of next month.
The People Power Party also supports increasing the New Year supplementary budget, but it is uncertain whether they will accept Lee's proposal. The '35 trillion' mentioned by Lee on the day is also the amount mentioned by the opposition party. Kim Ki-hyun, the floor leader, emphasized to reporters at the National Assembly that day, "Support for self-employed individuals and small business owners, which is urgently needed right now, must be properly and firmly provided."
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