LEE JAE-MYUNG BACK ON CAMPAIGN TRAIL

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Back on the campaign trail again, Lee Jae-myung is now fully focusing on pandemic quarantine and the economy. He is especially urging active support and compensation, proposing a method of "support first, settlement later" to businesses who are likely to be affected by the measures. For now, he is likely to distance himself from the government which is held accountable for quarantine measures.

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Ruling DP’s presidential candidate Lee Jae-myung visited a public hospital in his first schedule after testing negative for COVID-19. He stressed small business owners and the self-employed will suffer the most if distancing rules are again tightened and called for a different method in compensation support.

[Soundbite] Lee Jae-myung(DP Presidential Candidate) : "As losses increase, support should be given first followed by settlements later while a good mix of support and compensation is necessary."

The method he proposed is “support first, settlement later” and not the other way around, as current assistance is provided through deliberations after losses are incurred. Lee explained that once business restrictions kick in, a certain amount of aid should be delivered first and if that’s insufficient, more can be provided later. He also pointed out no matter how low the interest rate may be, support should take the form of direct aid instead of loans, just like the relief payouts. Lee estimates a maximum 100 trillion won will be needed for this purpose. But this is no easy task because finding ways to source the fund is a challenge and it requires opposition and government consent.

[Soundbite] Chae Yi-bae(Fair Market Committee Chief, Lee Jae-myung Camp) : "Our camp has estimated a budget plan and reserve funds for pandemic compensation. If it’s not enough, another supplementary budget is inevitable."

The Democratic Party has begun consultations with the government. The two sides agreed to allot compensation related to antivirus measures, not only for restricted business hours, but also caps on customer group sizes.

[Soundbite] Kim Sung-whan(DP Deputy Floor Leader) : "The Ministry of SMEs and Startups expressed intent to revise guidelines and ordinances to resolve the issue on gathering limits which are currently excluded from compensation receipt."

Regarding the ‘support first, settlement later’ method proposed by the ruling camp, senior presidential secretary for public relations Park Soo-hyun agreed the proposed method seems like the necessary option right now.