Kim Jin-pyo Participated in the Legislative Process of the Maeng Seong-gyu Bill
Possibility of Leading with Commitment as Speaker of the National Assembly
'Submission of National Assembly Macro Total Review Results to the National Fiscal Strategy Meeting'
'Opinion on Strengthening National Assembly Participation in Ministry Budget Formulation Process'
People Power Party to Discuss Separately from Negotiations on Assembly Organization
Kim Jin-pyo, the newly appointed Speaker of the National Assembly, is arriving at the National Assembly building on the 5th. Photo by Dongju Yoon doso7@
[Asia Economy reporters Naju-seok and Park Jun-i] It has been confirmed that Kim Jin-pyo, Speaker of the National Assembly, played a leading role in preparing a package of amendments to the National Assembly Act that significantly strengthen the National Assembly's budget review authority. Speaker Kim announced as his inaugural declaration a reform drive to "significantly strengthen the National Assembly's budget review and resolution authority," and since he was directly involved in the bill proposal process, there is interest in whether the amendment discussions will accelerate. The ruling party, which had opposed the strengthening of the National Assembly's budget review authority, calling it ‘budget-wanbak (complete deprivation of budget formulation authority),’ has shown signs of leaving the possibility of discussion open.
On the 6th, Meng Seong-gyu, a member of the Democratic Party of Korea who proposed the bill aimed at expanding the National Assembly's budget review authority, told Asia Economy in a phone interview, "During the preparation process of legislative improvements for the budget formulation and review process earlier this year (amendments to the National Assembly Act, National Finance Act, and National Assembly Budget Office Act), Speaker Kim provided assistance," adding, "Speaker Kim has great passion and awareness of the issue."
Rep. Meng explained, "The idea that the National Assembly Budget and Accounts Special Committee conducts a macro review of the total fiscal volume and that the National Assembly's opinions be discussed together at the National Fiscal Strategy Meeting held in May, as well as the provision that each ministry reports to its standing committee and receives opinions before submitting budget requests to the Ministry of Economy and Finance during the budget formulation process, were suggestions given by Speaker Kim." Speaker Kim participated as a co-sponsor in Rep. Meng's bill proposal, but he was deeply involved from the bill preparation stage beyond just being a simple co-sponsor.
Kim Jin-pyo, a former economic bureaucrat who served as Deputy Prime Minister for Economy and Director of the Tax Office and worked for a long time at the Ministry of Economy and Finance (formerly the Ministry of Finance and Economy), is a five-term lawmaker in the National Assembly who has held positions such as floor leader and chairman of the National Policy Advisory Committee, which was the transition committee for the Moon Jae-in administration. Known for playing key roles in both government and National Assembly regarding budgets, Speaker Kim is reported to have had concerns about the current National Assembly budget review procedures.
Speaker Kim also expressed his concerns in his inaugural speech. He recently stated in his acceptance remarks, "I will make the National Assembly fulfill its role as a constitutional institution. First, I will significantly strengthen the National Assembly's budget review and resolution authority as stipulated in the Constitution," adding, "I will improve the National Assembly's budget review process so that the Budget and Accounts Committee and standing committees receive preliminary reports at each stage of the government's budget formulation." Expanding the National Assembly's role in budget review was presented as the Speaker's top priority.
As Speaker Kim showed enthusiasm, the ruling party's stance also shifted. The People Power Party, which had strongly opposed Rep. Meng's bill proposal, has left the door open for discussion. Yang Geum-hee, the floor spokesperson for the People Power Party, said in a phone interview, "This is an area that needs to be studied," adding, "Even though this issue has been raised for 20 years, it has not been legally codified. Since this is not a simple or easy matter, it can be separated from the negotiation over the formation of the National Assembly and further discussion and research can be conducted." However, Yang also noted, "Since the current Constitution grants budget formulation authority to the government, it is necessary not to violate the Constitution," thereby adding a caveat that expanding the National Assembly's budget review authority should not infringe on the government's budget formulation authority.
Rep. Meng's bill includes, in addition to Speaker Kim's proposals, converting the Budget and Accounts Special Committee from a special committee to a standing committee, introducing macro review of total fiscal volume, expanding budget review by standing committees, introducing a duplication report to check overlapping budget projects, and implementing a zero-based budgeting system that reexamines all projects from scratch every five years.
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