Dispirited 'Supplementary Budget Lunch'... "Quick Plenary Session" vs "Issues Must Be Resolved" Only Confirms Differences in Positions

Attention on Final Agreement Results of Both Parties' Floor Leaders and Deputy Prime Minister for Economy Choo Kyung-ho

[Asia Economy Reporters Oh Ju-yeon and Park Joon-yi] On the 27th, the ruling and opposition parties held a '3+3 luncheon meeting' including the floor leaders and budget committee secretaries of both parties to finalize the first supplementary budget (supplementary budget) of the Yoon Seok-yeol administration, but they failed to reach a final agreement and parted ways confirming only their differences.

[Image source=Yonhap News]

That afternoon, the Democratic Party and the People Power Party held a lunch meeting for over two hours at a restaurant in Yeouido. From the People Power Party, Floor Leader Kwon Seong-dong, Deputy Floor Leader Song Eon-seok, and Ryu Seong-geol, the ruling party secretary of the Budget Committee, attended, while from the Democratic Party, Floor Leader Park Hong-geun, Policy Committee Chair Kim Seong-hwan, and Maeng Seong-gyu, the opposition party secretary of the Budget Committee, were present.

At this meeting, the Democratic Party raised seven key contentious issues including retroactive application of loss compensation and financial support for small business owners and self-employed, continuing from the previous day, but it is reported that the differences in positions were not fully narrowed.

After the luncheon meeting, Representative Ryu told reporters, "We had many discussions, but this part is related to an increase, so government approval is necessary." Maeng, the opposition party secretary of the Budget Committee, also said, "There are disagreements on several issues," adding, "We expect a progressive attitude from the government and the ruling party. They said they would review it soon, so we need to receive the reviewed opinions and discuss again."

However, both parties agreed on the need for swift passage of the supplementary budget, aiming to process it within this month before the June 1 local elections, raising the possibility of a last-minute agreement.

Representative Ryu emphasized regarding the plenary session, "We (People Power Party) hope to hold the plenary session as soon as possible, even late into the night today, to process the second supplementary budget."

Democratic Party Floor Leader Park Hong-geun also said at a morning press briefing before the meeting, "The Democratic Party has promised to open the plenary session and process it immediately whenever the People Power Party and the government present a sincere agreement," adding, "Our firm position remains to process the supplementary budget within May."

Representative Ryu stated, "Soon, the floor leaders of both parties and Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho will meet, and the final agreement will come out from there."