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Jin Sung-joon, policy committee chair of the Democratic Party of Korea, posted on Facebook on June 11 that the government’s supplementary budget should include a universal “livelihood recovery payment” for all citizens./ Source: Jin Sung-joon's Facebook post

Jin Sung-joon, policy committee chair of the Democratic Party of Korea (DP), said on June 11 that a universal "livelihood recovery payment" should be included in the upcoming supplementary budget.

In a Facebook post, Jin wrote, "A universal payment to all citizens is the most desirable form of livelihood recovery support," noting that public debate is centering on whether the payments should be universal or targeted.

He continued, "This support must be included in the supplementary budget. To maximize the economic stimulus effect, universal payments are preferable. The goal is not simply to assist household budgets, but to revive the economy through broader consumer spending."

To that end, Jin proposed that the payments be made in the form of regional currency with a set expiration date, saying, “That would maximize their impact.” He added, however, that “the problem is the government’s fiscal capacity, which has been significantly weakened by the Yoon administration’s policy failures.”

Jin also acknowledged that if fiscal constraints prove too great, “some form of targeted support may be considered.” He emphasized that the DP would maintain its focus on boosting consumption to aid economic recovery, and would work with the government to assess policy options based on overall fiscal conditions.