[National Audit] Kim Dong-yeon "Providing 250,000 Won Per Person Will Be Effective in Boosting Consumption"

Gyeonggi Province Governor Kim Dong-yeon is responding to lawmakers' questions during the National Assembly's Public Administration and Security Committee's audit of Gyeonggi Province held at the Gyeonggi Provincial Government on the 14th.

Kim Dong-yeon, Governor of Gyeonggi Province, expressed a principled agreement with Lee Jae-myung, leader of the Democratic Party of Korea, regarding the '250,000 won per person payment,' stating that it would have a consumption stimulation effect.

On the 14th, Governor Kim appeared at the National Assembly's Public Administration and Security Committee's audit of Gyeonggi Province and responded to a question from Jeong Dong-man, a member of the People Power Party (Busan Gijang-gun), who asked, "Isn't the uniform payment of 250,000 won per person an infringement on the government's budget formulation authority?" Kim replied, "If we consider the active role of fiscal policy in the current economic situation, it should not be seen as an infringement on the government's budget formulation."

He added, "There are several studies showing that (the national support fund) has a consumption stimulation effect," and "Especially during an economic downturn, there is a multiplier effect along with consumption stimulation, so I believe it will be very effective."

However, he emphasized, "The effect will vary depending on whether the support fund is considered income," and "At this point, before deciding whether to give it to all citizens or to 80% of those in need, it is important to first decide on the payment."