PRESIDENTIAL CANDIDATES' TV DEBATE

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The first debate among major presidential candidates that is required by law took place Monday evening. The contenders focused on economic issues, in particular measures to ride out the fallout from COVID-19.

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In the first legally mandated debate which focused on the economy, presidential candidates discussed the COVID-19 crisis. The Democratic Party’s Lee Jae-myung called for a full compensation of losses suffered by small businesses that is applied retroactively.

[Soundbite] Lee Jae-myung(DP Pres. Candidate) : "Other countries provided support amounting to 15% of GDP while Korea’s stood at 5%. This means households took on debt the state was supposed to shoulder. Korea has the highest household debt level in the world."

The People Power Party’s Yoon Suk-yeol agreed on the need for compensation calling it a constitutional right, but he also stressed the importance of fiscal soundness.

[Soundbite] Yoon Suk-yeol(PPP Pres. Candidate) : "The government spent a great deal in COVID-19 response through expansionary fiscal policies, but now it must give attention to fiscal soundness."

Justice Party candidate Sim Sang-jung criticized the two main parties’ constant wrangling during compensation negotiations.

[Soundbite] Sim Sang-jung(Justice Party Pres. Candidate) : "Both parties pretended to care for small businesses competitively throwing out figures such as KRW 35 tn or KRW 50 tn. The DP blamed the gov’t and the PPP blamed the ruling camp and the wrangling continued for 2 years. We've had enough."

The People’s Party’s Ahn Cheol-soo said extra budgets are not enough and called for a special account dedicated to the issue.

[Soundbite] Ahn Cheol-soo(People’s Party Pres. Candidate) : "Continuously resorting to extra budgets is highly abnormal and will put our state coffers in complete tatters. The responsibility lies with the two main parties."

Lee and Yoon also clashed over how they assessed the current administration’s antivirus measures.

[Soundbite] Yoon Suk-yeol(PPP Pres. Candidate) : "You admitted to the government’s policy failure. Doesn’t that mean the ruling party should be held accountable in the election? Or are you just doing a role play?"

[Soundbite] Lee Jae-myung(DP Pres. Candidate) : "You don’t wear a mask that often. It’s the same with your wife. You don’t observe rules and also didn’t conduct a raid of the Shincheonji religious sect when the virus death toll was surging in Daegu."

The two also pointed fingers at each other’s party over the handling of a supplementary budget that was approved in parliament just prior to the debate. Lee blamed the opposition for delaying the passage while Yoon said the ruling party’s spending package was not large enough.