Yoo Seung-min: "Moon Administration, Criticizing '4 Major Rivers' Preliminary Feasibility Exemption, Did More Than MB"

[Image source=Yonhap News]

[Asia Economy Reporter Lee Ji-eun] Yoo Seung-min, a presidential candidate from the opposition, criticized the exemption of preliminary feasibility studies (PFS) for the Gadeokdo New Airport, calling it "debt for the youth."

On the 29th, Yoo said on Facebook, "Since coming to power, the Moon Jae-in administration has been exempting PFS as easily as eating cold porridge, which they harshly criticized when they were in the opposition."

He raised concerns about the ruling party's push to pass a special law centered on exempting the PFS for the Gadeokdo New Airport, saying, "(The PFS exemption) is not for the sake of our economy but purely election-driven populism." He emphasized, "The PFS is a system to scientifically assess the feasibility of national projects in advance to save the precious taxes of the people and to ensure funds are used only where necessary."

Yoo pointed out, "I clearly remember how severely President Moon Jae-in and Democratic Party lawmakers criticized PFS exemptions during the Lee Myung-bak administration. However, the Moon administration's PFS exemptions have already reached 88.1 trillion won, far surpassing the combined 83.9 trillion won exemptions of the Lee Myung-bak and Park Geun-hye administrations."

He added, "Including the expected future PFS exemptions such as for the Gadeokdo New Airport, the amount is expected to be much larger than 100 trillion won," and warned, "If large-scale national projects without economic feasibility are pushed through without PFS, the result will be debt for future generations."

Yoo said, "National debt, national pension, health insurance, and employment insurance will all place enormous burdens on future generations, but PFS exemptions only increase the debt for the youth," adding, "People in their 20s, 30s, and 40s must clearly understand that their pockets are being emptied and their futures mortgaged because of the Moon administration. Knowing the truth, it is impossible to support this administration."