ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Economy

South Korea presidential candidates clash over COVID relief plans

Lee Jae-myung reversal on universal relief comes after Youn Seok-yeol lambasts plan

Lee Jae-myung, left, of the ruling Democratic Party says he has given up on plans to seek another round of universal relief payments. Youn Seok-yeol, a former prosecutor representing the conservative main opposition People Power Party, had lambasted the plan as "cash-spraying populism." (Source photos by Reuters and Kyodo)

SEOUL -- On Thursday, a candidate to be the next president of South Korea announced he would give up on plans to seek another round of universal relief payments to boost the recovery from the pandemic, backing away from a signature pledge in the name of political harmony.

The candidate, Lee Jae-myung of the ruling Democratic Party, said he would abandon the plan due to the lack of consensus over relief payments among the two major political parties and the financial authorities, and concerns that a drawn-out battle over the terms of relief would delay payments.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more