The People Power Party and the government will strengthen support policies for small business owners, such as issuing the largest-ever amount of Onnuri gift certificates, and increase social benefits for households with two or more children, such as expanding electric vehicle subsidies for children in multi-family households to 6 million won.
Kim Sang-hoon, People Power Party policy committee chairman, met with reporters and made these remarks after finishing the ‘Party-Government Council Meeting on the 2025 Budget’ held at the National Assembly on the morning of the 20th.
Vice Chairman Kim Jeong-su said, “In addition to the 2023-2024 budget, next year’s budget will also focus as much as possible on sound finances that will overcome the crisis and lead economic recovery by strengthening welfare for the underprivileged to the greatest extent ever,” adding, “The previous Moon Jae-in administration’s fiscal recklessness, lack of concept, and irresponsibility have rapidly reduced fiscal capacity and depleted economic stamina.”
He continued, “The giant opposition party treated the people’s taxes as their own pocket money and wasted the finances on temporary cash injections,” and “In contrast, the People Power Party did its best to reflect the budget for urgent measures such as expanding support for the socially disadvantaged and overcoming the low birth rate for the sake of a century-long plan.”
Vice Chairman Kim Jeong-cheol said about the direction of support for small business owners, “We will increase the Onnuri gift certificates to 5.5 trillion won, the largest amount ever, and expand their usage,” and “We will expand their usage by reducing the types of businesses with restricted franchises to 28 through revision of the enforcement ordinance of the Traditional Markets Act.”
He continued, “We will establish a fund of 500 billion won to support the scale-up of promising small business owners with potential and a dedicated fund for promising small business owners linked to e-commerce,” and “We will expand the size of the new start fund from 30 trillion won to 40 trillion won plus alpha to expand the loan scale and adjust debt for small business owners with vulnerable credit.”
Social benefits for households with two or more children will also be significantly expanded.
Vice Chairman Kim Jeong-cheol said, “We will increase the purchase subsidy that households with many children receive when purchasing electric vehicles, which is double the amount, to 6 million won,” and “We will push for purchase subsidy support for popular vehicles such as vans that are easy for multi-households to use during future National Assembly deliberation.” He continued, “We have requested that the discount rate for the K-Pass transportation card be increased to 50%, and that the discount benefit that was previously applied to three or more people when riding the KTX be changed to apply regardless of the number of passengers.”
The government will also expand the purchase of houses that have been damaged by jeonse fraud and strengthen the budget related to electric vehicle fire prevention. Vice Chairman Kim of the Policy Committee said, “We will expand the purchase of houses that have been damaged by jeonse fraud from the existing 5,000 to 7,500,” and “We will increase the supply of electric vehicle fire prevention chargers to 90,000 units and additionally introduce unmanned destruction water trucks and electric vehicle fire suppression equipment.”
He continued, “We will increase the number of professors at national medical schools to 1,000 over the next three years and expand the number of public night/late-night pharmacies by more than three times to support immediate purchase of necessary medicines.”
In order to foster core science and technology personnel, support for graduate students in science and engineering will also be expanded. Vice Chairman Kim of the Policy Committee said, “We will support research activities by doubling the Presidential Science Scholarship for graduate students, establishing a new scholarship for masters in science and engineering, and doubling the research incentive for masters and doctoral students.” He also said, “We will establish a Korean-style Stipend that guarantees a stable student salary of 800,000 won per month for masters and 1.1 million won for doctoral students in science and engineering participating in R&D projects.”
We will also strengthen support for farmers’ livelihoods. Vice Chairman Kim Jeong-cheol said, “In order to stabilize agricultural product prices, we will fully introduce import stabilization insurance, expand the items covered by insurance, and the government will support 50% of the insurance premiums.” He also said, “We will increase the unit price of direct payments by an average of 5% to expand stockpiling for stable supply and demand of agricultural products and expand the volume of contract cultivation.”
Support for soldiers and reservists will also be expanded. Vice Chairman Kim Jeong-cheol emphasized, “We will provide training expenses to reservists who have not been designated for mobilization, and we will also establish transportation expenses for reservists’ orientation training.” He also said, “We will expand the number of official residences of less than 30 pyeong in key areas to ensure stable academic activities for military children, and we will quickly expand the number of officers’ quarters in remote areas.”
(Seoul = News 1)
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2024-08-20 10:47:33