A proposal has emerged to give the "high oil price damage support payment," planned in this supplementary budget for the bottom 70% of income earners, to everyone nationwide by including the top 30% as well. In response to the view that the Bank of Korea's surplus could be used for this, Park Hong-geun, Minister of the Ministry of Planning and Budget, said, "We need to watch how the economy performs in the second half."
The Minister responded as such to a related question from Kim Yong-man of the Democratic Party of Korea during a full session of the Special Committee on Budget & Accounts at the National Assembly on the 7th.
Park said, "If we include up to the top 30% to pay everyone nationwide, it would cost an additional 1.8 trillion won, and that level of funding could be absorbed within the BOK surplus," adding, "We should actively consider broader support in the remaining time."
The Minister said, "We do expect more than 2.5 trillion won to come in from the BOK surplus," but added, "We need to check whether the non-tax revenue slated to come in when this year's budget was drawn up will actually come in, and we also need to confirm the economic situation in the second half."
She added, "If we do not use the BOK surplus this time, it will of course be handled under next year's statutes," noting, "We considered these aspects comprehensively."
Regarding paying everyone nationwide, the Minister said, "I agree with the intent, but we did not view this program as universal welfare; we also considered the economic aspect," adding, "We had no choice but to prioritize and give substantial consideration to vulnerable groups and affected industries."