The chief of the main opposition Democratic Party says his party will drop its insistence on cash handouts for the entire population if the government and the ruling party refuse to draw up a supplementary budget for that reason.
 
Democratic Party Chairman Lee Jae-myung disclosed the change of stance Friday during the party’s Supreme Council meeting at the National Assembly.

The opposition party has previously called for the supplementary budget to include handouts worth 250-thousand won, or about 172 U.S. dollars, per person for the entire population.

But the ruling bloc opposes the idea, arguing that it would not stimulate domestic demand and would only increase the government’s fiscal burden.

Lee said his party will not push for the cash handouts as long as the ruling bloc comes up with effective policy measures to ensure the people’s economic well-being.

Stressing the need for financial support to assist the people, Lee called on the ruling bloc to draft a supplementary budget without delay.