[세종=이데일리 최훈길 기자] As the government decides to discuss whether or not to raise the distance from the third stage, the 3rd emergency disaster support fund is paying attention. The government will announce the size, target and method of emergency disaster subsidies next week. It is pointed out that the scale of support should be greatly expanded and concentrated support urgently in the affected industries as the damage to self-employed persons is severe due to strengthening quarantine.
Namki Hong “Corona customized damage support, January support”
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According to the Central Disaster and Safety Countermeasures Headquarters for Corona 19 Response on the 26th and the Ministry of Strategy and Finance, the government held a critical scripture meeting presided over by Prime Minister Jeong Sye-gyun at 3 pm on the 27th at the government office in Seoul, and took measures to prevent quarantine such as whether or not to raise the distance in the third stage Discuss.
Tae-ho Yoon, head of the Central Accident Control Headquarters, at a regular briefing on the 25th, said, “Because the 2.5th stage of the metropolitan area and the second stage of the nation will end on next Monday, we discussed how to take action at the main script meeting on Sunday (27th). We will guide you separately.”
On the 29th, the government held a meeting of the Emergency Economy Central Countermeasure Headquarters (economic critical script) presided over by Hong Nam-ki, Deputy Prime Minister of Economy and Minister of Equipment, to discuss support measures such as the 3rd Emergency Disaster Subsidies. Following this, Deputy Prime Minister Hong is scheduled to announce the results of the Economic Major General Conference through regular briefings at 11:30 am on the 29th.
The 3rd subsidy is expected to be organized in a scale of ‘3 trillion won plus alpha’ and selectively provided to the affected industries. On the 2nd, an additional support budget will be added to the 3 trillion won reflected in the next year’s budget. The government is reviewing the precedent of paying up to 2 million won per household from 1 million won to 2 million won this year to small business owners who suffered damage.
In addition to financial support that provides cash, tax support such as expansion of rental tax credits, and financial support such as extending the maturity of repayment of loan principal are also discussed. As quarantine has been strengthened, plans to expand the target of support are also under consideration. Deputy Prime Minister Hong said, “We will finish the review of customized damage support measures for the third spread in this month and establish an action plan so that support can be supported in January.”
In the political world, voices are constantly raised that the disaster subsidies should be provided to the public. Gyeonggi Gyeonggi Governor Lee Jae-myeong insisted that the third disaster support fund should be provided to all citizens in local currency of 200,000 to 300,000 won per person in January next year. It is worth up to 15 trillion won. In this case, it is inevitable to organize an additional budget (additional view).
The Ministry of Education has a negative stance on the organization of the supplementary administration. This is because it is difficult as a fiscal authority to agree to amend the next year’s budget bill passed in December from January without proper execution. With this, Governor Lee Jae-myeong accused Facebook of saying, “It is not a boast that we saved surgery expenses during the war, but that it is a low level.” In response, Deputy Prime Minister Hong responded to the Facebook page, saying, “There is no time to look aside for crisis and economic recovery, and there is no time to look left and right” and “I will never be shaken by trivial points.”
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◇ 11% of shopping cart prices’legging’ despite the corona economy contraction
In the coming week, attention-grabbing statistics will be released one after another. The National Statistical Office announces the industrial activity trend for November 30th. According to the industrial activity trend for October (compared to the previous month), all industrial production recorded 0.0%, retail sales -0.9%, facility investment -3.3%, and construction period -0.1%. The decline in retail sales in November is expected to expand due to the strengthening of distance, and the contraction in domestic demand is expected to worsen.
The National Statistical Office announces the consumer price trend for December and the year on the 31st. According to the consumer price trend in November (compared to the same month last year), consumer prices rose 0.6% last month. Agricultural and livestock products rose 11.1%, and the inflation burden on shopping carts is large. Inflation is expected to be a fall in import prices due to a fall in the won-dollar exchange rate (stronger won) and a rise in raw material prices such as crude oil due to anticipation of the Corona 19 vaccine.
First Vice Minister Kim Yong-beom will attend the extended executive meeting presided over by the Deputy Prime Minister on the 28th and the Vice Minister’s Meeting on the 31st. Second Vice Minister Ahn Il-hwan will preside over the Public Institution Steering Committee on the 29th and the Financial Management Review Meeting on the 30th.
On the 30th, the Korea Development Institute (KDI) publishes the December issue of the North Korean Economic Review, which diagnoses the recent economic situation in North Korea and predicts the future direction.
The Korea Institute for International Economic Policy (KIEP) publishes a report on the 30th, “The main contents and implications of the recent conflict between Australia and China”. The conflict between the two countries that arose after Australia raised a responsibility theory saying that China is the origin of Corona 19 has spread to the recent trade retaliation controversy. The following is the main schedule and report plan for the week of the Ministry of Information and Transportation, Statistics Korea, KDI, and KIEP.
Weekly schedule
△28th (Mon)
15:00 Extended Executive Meeting (Deputy Prime Minister, 1st Vice Minister, closed)
△29th Tuesday
07:30 Emergency Economy Central Countermeasure Headquarters Meeting (Deputy Prime Minister, Seoul Office)
10:00 State Council Meeting (Vice Prime Minister, Seoul)
10:00 Economic Education Management Committee (2nd Vice Minister, closed)
11:30 Regular briefing at the Central Countermeasure Headquarters for Emergency Economy (Deputy Prime Minister, Seoul Office)
15:00 Public Institution Steering Committee (2nd Vice Minister, closed)
△30 days (Wed)
15:00 Financial Management Inspection Meeting (Second Vice Minister, Seoul Government Building)
△31st (Thursday)
08:30 Central Disaster and Safety Countermeasure Headquarters Meeting (Deputy Prime Minister, Seoul Office)
10:30 Vice Minister Meeting (1st Vice Minister, Seoul Government Building)
Weekly coverage plan
△28th (Mon)
12:00 Selected as market maker for the 2021 KRW/yuan direct trading market
12:00 2019 Small Business Survey Results (provisional)
12:00 North Korea’s Major Economic Indicators for 2020
17:00 2020 active administration year-end awards ceremony held by the Ministry of Strategy and Finance
17:00 2020 Ministry of Strategy and Finance Policy MVP Selection Results
17:00 2021 Assigned tariff and adjusted tariff operation plan announced
17:00 Ministry of Strategy and Finance holds an extended executive meeting
△29th Tuesday
10:00 The 9th Economic Education Management Committee held
12:00 Results of the 2019 national business survey (provisional)
12:00 2021 Garlic and Onion Estimated Growing Area Survey Results
△30 days (Wed)
08:00 November 2020 Industrial Activity Trend
09:00 November 2020 industrial activity trend and evaluation
09:00 Revision of notice on prohibition of selling masks and hand sanitizers
10:00 The Ministry of Strategy and Finance announces a change in the amount subject to international bidding
10:00 Global Economy Focus-Main Contents and Implications of the Recent Australian-China Conflict (KIEP)
12:00 KDI North Korean Economy Review (December 2020)
15:00 The 26th Financial Management Inspection Meeting was held
△31st (Thursday)
08:00 December 2020 and annual consumer price trend
09:00 December 2020 and annual consumer price trend analysis
10:00 Notification of 2021 budget and fund management plan execution guidelines
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