Lee Jae-myung: "OECD's Highest Household Debt Ratio Is Result of Penny-Pinching Policy"..."'Compensation' Is Correct"

[Suwon Ilbo=Reporter Park Noh-hun] Gyeonggi Province Governor Lee Jae-myung posted a message of support on his SNS on the 12th for the "Coronavirus Damage Relief Act" proposed by Democratic Party Rep. Lee Dong-ju.

Along with this, Governor Lee criticized Korea's low national debt ratio.

Governor Lee pointed out, "It is not the time to boast of a low national debt ratio that is merely one-third of the OECD average," and "the highest household debt ratio in the OECD is the result of penny-pinching policy."

"Under the guise of 'fiscal soundness,' we cannot drive ordinary citizens who have done their best day after day to the cliff's edge," he continued, ending his post with, "I hope that the bill proposed by Rep. Lee Dong-ju will be processed more quickly than any other legislation. I support it."

The following is the full text of Governor Lee's SNS post.

# <'Compensation' Is Correct, Not 'Support'>

Democratic Party Rep. Lee Dong-ju is proposing the "Coronavirus Damage Relief Act." It is a method in which the government 'compensates' small business owners and small and medium enterprises for business profit losses caused by regulatory restrictions under quarantine guidelines.

Special sacrifice must be followed by appropriate special compensation. If this straightforward principle does not work, it is difficult to maintain the community. No one would have reason to cooperate.

It is not the time to boast of a low national debt ratio that is merely one-third of the OECD average. The highest household debt ratio in the OECD is the result of penny-pinching policy.

Under the guise of 'fiscal soundness,' we cannot drive ordinary citizens who have done their best day after day to the cliff's edge. I hope that the bill proposed by Rep. Lee Dong-ju will be processed more quickly than any other legislation. I support it.(end)