'Excessive Authority' of 'Sanggeupgigan' Criticized
"Each Ministry Must Preserve Its Unique Functions"
[Asia Economy Reporters Koo Chae-eun and Son Sun-hee] Lee Jae-myung, the presidential candidate of the Democratic Party of Korea, criticized the excessive authority of the Ministry of Economy and Finance and announced plans to separate the "budget function" if he comes to power. This is another strong statement made just two days after Yoon Ho-jung, the floor leader of the Democratic Party, mentioned a parliamentary audit of the Ministry of Economy and Finance, citing a large discrepancy in excess tax revenue on the 16th.
In an interview with News1 on the 18th, Lee said, "The Ministry of Economy and Finance is acting as a superior institution over other ministries through its budget authority," and added, "There is a need to separate the budget function." He emphasized, "The biggest problem with the Ministry of Economy and Finance is that it holds planning, budgeting, and execution functions all at once," and said, "Correcting this issue will allow each ministry's unique functions to be revitalized."
Lee had previously mentioned the need to decentralize the Ministry of Economy and Finance's authority. While serving as governor of Gyeonggi Province, he had several conflicts with the Ministry regarding its fiscal positions. He also clashed with Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, over the nationwide disaster relief payments. Recently, Lee criticized the Ministry's decision to cut next year's local currency budget, saying, "There are many criticisms that policies are decided in a warm room, far from the field," pointing out the Ministry's risk-averse attitude.
The Ministry of Economy and Finance has refrained from expressing its position on political candidates' pledges, citing political neutrality obligations. However, there is some acceptance that organizational restructuring could occur in line with the inauguration of a new government, as was the case when the Ministry of Finance and Economy and the Budget Office were merged in 2008. Nevertheless, there is strong resistance to the so-called "dismantling theory," which is mentioned critically in the ongoing debate over recent budget estimates.
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