Kwon Seong-dong "6 Million Won in Quarantine Support Funds Must Be Included in the 2nd Supplementary Budget" (Update)

President Yoon Shows Strong Commitment to Fulfilling Promises
Choo Kyung-ho: "Will Submit to National Assembly the Day After Tomorrow After Tomorrow's Cabinet Meeting"

Kwon Seong-dong, floor leader of the People Power Party, is attending the party floor strategy meeting held at the National Assembly on the 6th and delivering opening remarks. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporters Hyunju Lee, Hyunji Kwon] The People Power Party announced on the 11th that it will prepare a second supplementary budget to provide 6 million KRW in quarantine support funds to small business owners and self-employed individuals affected by the COVID-19 pandemic.

Kwon Seong-dong, floor leader of the People Power Party, held the first party-government consultation meeting that day and said, "President Yoon Seok-yeol promised during the last presidential election to provide an additional 6 million KRW to small business owners and self-employed individuals, offering up to 10 million KRW in practical compensation including the first and second rounds of quarantine support funds." He emphasized, "Although there was some confusion during the Presidential Transition Committee's review process, since President Yoon is strongly committed to fulfilling this promise, the plan to provide 6 million KRW in quarantine support funds must be included in this supplementary budget."

Floor leader Kwon stated, "During the first supplementary budget, the People Power Party advocated for a supplementary budget focused on livelihood support that would broadly and thoroughly assist those who suffered actual damages due to government administrative orders, such as raising the loss compensation rate and expanding the minimum amount." He added, "Providing 3 million KRW in quarantine support funds to 3.7 million small business owners and self-employed individuals, and carefully identifying blind spots such as special employment workers, freelancers, cultural artists, and corporate taxi drivers was a significant achievement, but it is also true that small business owners and self-employed individuals were disappointed because the loss compensation rate was only raised to 90%."

He further said, "We will actively convey our party's opinions today to sufficiently supplement the shortcomings from the previous supplementary budget."

In response, Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho said, "This supplementary budget plan will be submitted to the Cabinet meeting on Thursday and to the National Assembly on Friday after today's party-government consultation." He added, "There can be no distinction between ruling and opposition parties when it comes to taking care of people's livelihoods, so cooperation from the National Assembly is more crucial than ever for the approval of the supplementary budget."