President Lee Jae-myung said on the 29th that next year's budget for discounts on agricultural, livestock and fisheries products should be raised sharply "to around 1 trillion won."
Lee made the remark at a Cabinet meeting held at the Blue House, saying that "because this round of traditional market discount support was limited to 300 markets, there are many complaints" from markets that were excluded. The government spent about 149 billion won for the Chuseok holiday on its largest-ever discount program for agricultural and livestock products, but limited the traditional market portion to 300 markets nationwide. At participating markets, shoppers were reimbursed 30% of their purchases of domestically produced agricultural and livestock goods in Onnuri gift certificates, capped at 20,000 won per person.
"From an administrative standpoint there must have been reasons for the limits, but on the ground people are probably upset, thinking, 'I pay the same taxes, so why is our market excluded?'" Lee said. He added that "next year's budget should be increased somewhat more so that all citizens feel they have plenty during Chuseok and other holidays."
Deputy Prime Minister and Minister of Finance and Economy Lee Hyoung-il responded that "last year it was 200 markets, so this was an increase of 100." He added that "expanding it further would require the markets themselves to be prepared, and the systems would also need to keep up in order to provide the reimbursements in Onnuri gift certificates." Minister of Agriculture, Food and Rural Affairs Song Mi-ryung explained the rationale for limiting the program, saying that "traditional markets with 10 or more stores selling domestic agricultural, livestock and fisheries products are almost all included in the 300."
Lee noted that "the discount support budget, originally at about 100 billion won, was increased for this Chuseok." He said, "Next year, covering both Lunar New Year and Chuseok, how about raising it sharply to close to 1 trillion won?" He added that the government should "get help from the National Assembly if necessary."
Minister of Planning and Budget Park Hong-keun replied that "160 billion won has been allocated in next year's main budget" and that "it will be increased during the National Assembly stage." Lee then suggested that "it could also be done through the future response fund," adding, "It helps ease polarization. There are plenty of ways to do it."
The future response fund is a 162 trillion won fund the government is building using sources including excess tax revenue from the semiconductor boom. It will be invested mainly in four areas: young adults, growth engines, regional development, and education and talent.
