South Korean Prime Minister Kim Boo-kyum stated on Wednesday that the government cannot afford another round of universal Covid-19 assistance handouts, as suggested by governing Democratic Party presidential candidate Lee Jae-myung (DP).
According to sources, Kim made the comment during a radio interview, emphasizing that the most pressing mission at the moment is to recompense self-employed and small company owners who have been affected by the epidemic. During an interview with local network CBS, Kim remarked of Lee's plan, "Our finance does not have adequate capacity to execute that." "This year's budget will be completed in two months." Kim's comments aligned with those of Finance Minister Hong Nam-ki, who had previously questioned the concept of distributing financial handouts to everyone rather than those who had suffered the most.
"Our disposable revenue is clear from the standpoint of the financial authority," Kim stated. "We're not in a position to scrounge money here and there." Lee recently stated that the government should provide more cash handouts to all citizens, claiming that the relief amount is insufficient in contrast to the country's GDP and other countries. Since the government is expecting to have a larger-than-expected surplus in tax income this year and many people are still suffering from the epidemic, the President has called for an extra 300,000-500,000 won (USD 250-USD 425) per individual.
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