President Lee Jae-myung remarked regarding the method of distributing the living assistance fund ahead of the Cabinet meeting to discuss the second supplementary budget that, "If we emphasize the income support policy aspect, we must naturally provide more support to those who are struggling." While maintaining the principle of 'universal distribution' that supports all citizens with the same amount, this statement leans towards selective or differential payment based on income level.

President Lee Jae-myung and his wife, Kim Hye-kyung, depart through Seoul Airport in Seongnam, Gyeonggi Province, on the afternoon of the 16th to attend the G7 summit held in Canada. This visit marks President Lee's first foreign trip just 12 days after his inauguration, the fastest among past presidents, as he attends the G7 expanded meeting as an observer at the official invitation of Canada, the host country. /Courtesy of News1

On the 16th (Korea time), President Lee met with reporters on a flight to Canada to attend the Group of Seven (G7) summit and said, "If it is only about stimulating consumption policies, it is certainly right to provide equally (regardless of income), but on the other hand, it is very difficult for ordinary families." He also noted, "Since there is some character of income support, emphasizing the income support policy means that naturally we must provide more support to those who are struggling."

There has been a disagreement within the ruling party regarding universal distribution aimed at stimulating 'consumption' across all classes and selective distribution focused on supporting low-income individuals. While the common view is that universal distribution is necessary, some opinions have emerged that selective or differential payment should be made considering the national financial situation.

President Lee mentioned 'the consumption tendency of low-income individuals' several times. He stated, "Even if it is a consumption stimulation policy, supporting low-income individuals is actually more beneficial for stimulating consumption because their consumption tendency is higher." He continued, "If we support high-income individuals, there is a high possibility that it will substitute existing consumption, but low-income individuals are more likely to engage in new consumption rather than substituting existing consumption."

He further stated, "We need to consider both aspects of income support policy and consumption stimulation policy, and I have the idea that perhaps we should mix the two. I intend to look a little more at the plan from the financial authorities and observe the process of discussions with the government and the ruling party."

The second supplementary budget, which is being pushed forward just two weeks after the new government was launched, amounts to a total of 20 trillion won and will be presented as an agenda at the Cabinet meeting on the 19th. This figure excludes the first supplementary budget (approximately 13.8 trillion won) that was executed primarily for wildfire response last month from the 35 trillion won supplementary budget proposed by the Democratic Party at the beginning of this year.