Minister of the Interior and Safety Lee Sang-min: ”It is difficult to accept the amendment to the Local Currency Act... We recommend that it be reconsidered” (South Korea)

On the 19th, Minister of the Interior and Safety Lee Sang Min stated, "As the head of the relevant ministry, I would like to express my deep regret over the unilateral disposal of the bill for the Regional Love Coupon Utilization Promotion Act (Regional Currency Act)."
The government will find it difficult to accept the bill. In a briefing held at the Government Seoul building on the same day, Minister Lee said, "The bill to amend the Local Currency Act, which was passed by the National Assembly plenary session under the leadership of the opposition party, is a difficult one to accept."
The bill, which has passed the Diet, is awaiting transfer to the government. We will recommend that the president request a reconsideration as stipulated in the Constitution."
Minister Lee said, "The bill is to make the state obligated to issue and manage the local community coupons, which are a local government matter.
"The proposed bill violates the government's inherent budget-making authority, which is stipulated in the constitution. It violates the principle of separation of powers.
"The bill will accelerate the phenomenon of 'the rich getting richer and the poor getting poorer' between special and metropolitan cities and marginalized areas, going against balanced regional development," he said.
The effect of the Community Love Coupons in promoting consumption is minimal, and side effects such as illegal distribution are expected."
Meanwhile, at the same day's plenary session of the National Assembly, the Democratic Party of Korea proposed a regional currency as its party policy.
Following the passage of the amendment to the law, the national and local governments are now required to provide the necessary financial support for the operation of the Community Love Coupons. The Minister of the Interior and Safety has drawn up a basic plan for revitalizing the Community Love Coupons and a detailed implementation plan.
The bill also includes a clause to establish and implement the Local Love Coupons. The Yoon Seok-yeol government said that the Local Love Coupons are a local project whose effect is limited to a specific area, and that they should be used to urgently support low-income and vulnerable people.
Zejaku) The government has not included any budget for local love coupons in its budget proposals for several years, citing the priority being given to support for those in the lower classes.