South Korea Election; Empowered the Current Government

South Korea The 21st general assembly election ended. The people empowered the current government.

In addition, the Democratic Party occupied 163 of the 253 seats in the district, and the Prophet Satellite Party and the Civic Party also gained 17 of the 47 seats of the proportional representative. The total number of seats for the two parties is 180, which is the victory of the ruling ruling party, which has no room for theor.

The Democratic Party occupied three-fifths of the total number of seats in the National Assembly (300 seats) after securing a majority in 16 years after the 17th general election held in 2004 by the Roh Moo-hyun administration. It is predictable that the direction of the 21st National Assembly in the next four years will be driven by the Democratic Party. It’s time to see what the Democratic Party has promised.

Ten pledges centered on marginalized groups such as ventures and small business owners

The Democratic Party’s 21st general election policy pledge has over 300 pages. Hundreds of promises were announced to be implemented during the term of the 21st National Assembly. Of the hundreds of commitments, the 10 priorities were submitted to the Central Election Commission, given policy priorities.

It is meaningful in that it is a commitment that reflects the philosophy of the political party even if it is difficult to see that the promise is fulfilled even if the policy ranking is high.

The Democratic Party’s 10th pledge includes support for those who were relatively marginalized compared to the existing vested interests. In the first place of policy, support for venture companies was raised. The main contents are,  vitalizing venture investment, discovering and nurturing promising venture companies, producing innovative SMEs,  raising capital of technological innovation companies, nurturing venture industry through deregulation. It is said that it will resolve the polarization between large companies and small and medium-sized enterprises (SMEs), a high-risk disease in the Korean economy, by supporting venture and small and medium-sized enterprises, which are desperately needed, rather than large enterprises with sufficient capital.

Support for small business owners and self-employed persons has also been raised as a policy priority. The details of the commitment include: Onnuri and local gift certificate issuance doubled, Increased tax base for tax exemption tax, Increased supply of guarantees to support small business owners, Expanded consulting to improve small business management capabilities. It is noted how effective these promises will reach small business owners and self-employed businessmen who have been hit hard by the Corona 19.