Gyeonggi Province Governor Kim Dong-yeon urged the government to completely revise the Yoon Suk Yeol government's fiscal policy to overcome the economic crisis caused by emergency martial law and impeachment, and to draw up an additional 30 trillion won budget.
Governor Kim held a press conference this morning (19th) and said, "The first thing to do is to reverse economic policy, which should be done 'quickly without delay, more than necessary, boldly enough to break market expectations."
"The impeachment of the president takes time," he said. "Our economy and people's livelihoods cannot wait until then. We need to impeach economic policies, especially fiscal policies, as soon as possible."
Governor Kim insisted that more than 10 trillion won be invested in future foods such as securing AI semiconductor sovereignty, bio-health innovation, and the aerospace industry out of the 30 trillion won supplementary budget to prepare for the "Trump 2.0 era."
He also said that small and medium-sized businesses and startups should be nurtured by restoring their investment in the parent fund of small and medium-sized businesses, which has been drastically cut by more than 50% under the Yoon Suk Yeol government.He also urged the Bank of Korea to cut its key interest rate by 0.5 percentage points as soon as possible, saying it should immediately push for a "people's livelihood recovery fund" that provides thick and dense support for the vulnerable based on
income.
Governor Kim demanded that the Bank of Korea increase the "financial brokerage support loan" by 10 trillion won from the current 30 trillion won limit, which is a policy financing that the Bank of Korea loans at low interest rates to commercial banks to ease the financial difficulties of small and medium-sized companies.
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