Finance Minister Hong Nam-ki has expressed his reluctance on the ruling Democratic Party(DP)’s push for COVID-19 relief payments for all citizens. 

Hong shared his view during a question-and-answer session arranged by the National Assembly's Special Committee on Budget and Accounts on Wednesday. 

The two-day session, which runs through Thursday, kicked off deliberations on the government’s second extra budget plan aimed at cushioning a pandemic-induced economic fallout, including financing the latest one-off relief checks. 

Hong said the government will thoroughly execute the extra budget if parliament decides to stick to the current plan, in which the lower 80-percent income bracket would be eligible for a new round of relief payments. 

His remarks come a day after the DP had decided to seek universal relief payouts. 

Asked on the need to expand the size of the extra budget from the current 33 trillion won to better respond to the fourth wave of the pandemic, the minister responded the nation has not reached the point of requiring a revised budget plan yet. 

However, he said he will sufficiently discuss with parliament a possible “readjustment” of the budget to reflect the current quarantine situation. 

On criticism from main opposition People Power Party Rep. Park Jin that the ruling party’s move to expand the payouts is populist and goes against principles of fiscal responsibility, Hong did not directly respond, instead emphasizing that the existing plan reflects the government’s limited resources. 

During the session, Prime Minister Kim Boo-kyum also responded negatively to a possible budget expansion, citing its potential impact on fiscal soundness.