Democratic Party: "250,000 Won Per Person, Special Measures Bill to Be Proposed and Processed After Opening"

The Democratic Party of Korea announced that it will immediately propose and process a special measure law upon the opening of the 22nd National Assembly to provide nationwide livelihood recovery support funds. This indicates their intention to pursue legislation after President Yoon Seok-yeol effectively rejected the payment of livelihood recovery support funds during his 2nd anniversary press conference.

On the morning of the 10th, Jin Seong-jun, the Democratic Party’s Policy Committee Chair, held a press briefing at the National Assembly in Yeouido, Seoul, stating, "Since the government has no will to provide support funds to overcome the livelihood crisis, the 22nd National Assembly will immediately propose the special measure law and proceed with the processing." The special measure law is expected to include provisions for providing 250,000 KRW per person in the form of local love gift certificates, to be spent by the end of this year, as previously advocated by the Democratic Party.

Jin did not agree with the criticism that the special measure law might be unconstitutional. Concerns have been raised that if the Democratic Party legislates a dispositional law to provide livelihood recovery support funds, it could infringe on the government’s authority to budget and execute expenditures. A dispositional law refers to a law that creates rights or obligations for specific citizens without administrative or judicial procedures.

Jin stated, "Dispositional laws are not even defined in the Constitution, and it is difficult to consider the special measure law as a dispositional law," adding, "Once the bill is enacted and the government proceeds with promulgation and enforcement, the government’s administrative actions will be involved in preparing the budget and paying the citizens." He further emphasized, "During the bill review process, the government’s consent is sought, and if the government agrees, the budget is executed, so it is not an infringement of the (budgeting and execution) authority."

He placed the responsibility for the failure of pension reform on President Yoon. Jin criticized, "Originally, President Yoon said he would take responsibility for pension reform by creating a presidential pension reform committee, but he passed the ball to the National Assembly," and added, "Although the majority agreed on strengthening old-age income security, the People Power Party rejected it." He also said, "The president’s decision to postpone it from the 21st to the 22nd National Assembly was an intention to ignore the public’s demand to strengthen old-age income security and focus only on fiscal stability," urging, "If that is the case, the government should responsibly prepare a pension reform plan and seek help from the National Assembly instead of passing the responsibility."

Regarding President Yoon’s repeated calls to abolish the financial investment income tax (Geumtu Tax), Jin described it as an act of inciting fear. Jin said, "The president claimed that introducing the Geumtu Tax would ruin the stock market, but this is an unfounded exaggeration," and questioned, "Is there any retail investor who earns more than 50 million KRW annually from stock investments?" He also expressed regret, saying, "It is very unfortunate that opinions swayed by some major individual investors’ agitation are being submitted," and criticized, "It is truly deplorable that the government is also inciting this agitation."