President Lee Jae-myung said on the 3rd, "It is very difficult for ordinary people to make a living. There are cases where an entire family makes an extreme choice because of a few hundred thousand won," adding that he expects, "The (livelihood recovery subsidy) will have the effect of stimulating consumption plus income support."
On this day, President Lee held a press conference at the Blue House guesthouse under the theme "30 days of the president, the media asks and the public answers," predicting the expected effects related to the fact that all citizens will receive a livelihood recovery subsidy of 150,000 to 500,000 won based on income according to the government's second supplementary budget.
President Lee noted, "Many people think, 'I should buy expensive imported fruit' or 'I should have a nice steak dinner with my family' with the livelihood subsidies," adding, "While we are proud to be one of the world's top 10 economies, I hope we don't suffer over such food issues."
President Lee stated, "Would 150,000 won be a large amount for a very rich person? However, for those who are currently insecure about their livelihood, 150,000 won or 500,000 won is a significant amount. There will be an effect of income redistribution."
He continued, "If we think of it as a reservoir, a very deep section can endure even if it dries up a bit. But the shallow areas suffer too much damage. It may be impossible to revive them," reaffirming, "In that sense, considering the current financial, liability, and economic conditions, we have determined the scale of the livelihood subsidy, and I believe the effect will be higher than generally evaluated."
However, in response to a reporter's question about whether there would be further action, President Lee said, "For now, there are no plans to add. The financial situation is not easy enough to afford more."
He added, "It is said that the number of people who believe 'the economy will get better next year' is the highest in eight years," emphasizing, "If people believe the economy will improve, consumption will increase. If we pour in a little bit of seed money, the virtuous cycle will begin. I believe that preventing the situation from forcing us to have to do this again is also something the government should do."