○ Amidst the threat of COVID-19, Koreans identify‘illness/disability (65.1%),’ ‘unemployment (60.6%),’ ‘struggling to meet living expenses (53.6%)’as the greatest social risk.
○ Considering the cost of social safety nets (National Pension, National Health Insurance, Employment Insurance, etc.) and tax expense, 48.7% of the population agree that sufficient level of benefits are being provided, and this is the highest rate among OECD countries.
○ 67.2% of Korean adults responded that the government needs to play a bigger role in ensuring socio-economic security.
○ Implies the need for proactive expansion of social safety net through expansionary fiscal policy and policy improvement, whilst considering the tax and social welfare cost burden.