Speaker Kim Jin-pyo: "Budget formulation process should be improved to reflect National Assembly's opinions at each stage"

Settlement results should be reflected in the budget by advancing the settlement period
Constitutional amendment "Political circles need a change of mindset"
Institutionalize second half organization and standing committee negotiations to prevent deadlock

Speaker of the National Assembly Kim Jin-pyo holds an inauguration press conference at the National Assembly on the 28th. Photo by Yoon Dong-joo doso7@

[Asia Economy reporters Naju-seok and Park Jun-i] Speaker of the National Assembly Kim Jin-pyo stated on the 28th regarding the strengthening of the National Assembly's budget review authority, "At each stage of budget formulation, standing committees and the Special Committee on Budget and Accounts should provide their opinions, and the government should refer to these when preparing the budget." He emphasized the need to establish procedural mechanisms that reflect the National Assembly's opinions throughout the budget formulation process without infringing on the government's budget formulation rights.

At his first press briefing since taking office on the 8th, Speaker Kim explained regarding the budget review authority he mentioned upon assuming office, "Every year around March, before the Resource Allocation Ministers' Meeting, the government should report agenda items to the Budget and Accounts Committee, which would then hold a week-long discussion to convey opinions on how various sectors should be handled to the government. The government would then refer to these opinions when allocating resources. Before the Budget Office sends the project-specific budgets in May, the relevant standing committees should review and provide their opinions. While the Budget Office is not bound by these opinions, it should be able to accept them." He added, "The settlement of accounts, currently conducted in August to September, should be moved forward to June," and stressed, "There should be a way to provide feedback during the settlement process."

He also revealed his participation in the bill proposed by Democratic Party lawmaker Maeng Seong-gyu regarding the permanent establishment of the Budget and Accounts Committee, stating, "Within the current institutional framework, I considered how to move beyond mere political disputes and reviews to address national interests and policy issues."

Regarding constitutional amendment, he said, "A change in political mindset is now necessary," adding, "The ruling party and government should not worry about a black hole but rather seek genuine cooperation from the opposition. For politics of cooperation to emerge, both ruling and opposition parties should agree on measures such as allowing a four-year renewable presidential term and transferring excessively concentrated presidential powers to the National Assembly, which would be beneficial for our society's development."

However, Speaker Kim acknowledged, "It is difficult to immediately form a constitutional amendment special committee due to opposition from the ruling party," and expressed hope that "a broad and in-depth discussion between ruling and opposition parties will proceed through an advisory body directly under the Speaker to facilitate public discourse and opinion formation."

Regarding the 53-day delay in the organization of the National Assembly, he said, "We will establish principles and procedures for the composition of standing committees institutionally through the National Assembly Act to resolve this within one to two weeks." This indicates his intention to implement institutional measures to prevent delays in the formation of the ruling and opposition parties in the National Assembly.

On this matter, Speaker Kim urged, "Please prioritize discussions and produce answers within the National Assembly's Political Reform Special Committee and the Subcommittee on National Assembly Modernization." He also noted, "There is consensus that if the election is not held within seven days after the start of the second half of the National Assembly session, it should be conducted at the first assembly."

Speaker of the National Assembly Kim Jin-pyo holds an inauguration press conference at the National Assembly on the 28th. Photo by Yoon Dong-joo doso7@

In his opening remarks, Speaker Kim addressed the 'minority ruling party, majority opposition' political landscape, stating, "A new stance and new changes are necessary." He said, "The People Power Party has become a minority ruling party for the first time," and urged, "They must shed their opposition party image and quickly adopt a role fitting a minority ruling party." Although holding a majority with 169 seats, he expressed expectations for the opposition Democratic Party to "take the lead in resolving national interests and livelihood issues and demonstrate the virtues of restraint as a mature opposition party."

Referring to the principle of empathy, he mentioned the possibility of compromise beyond partisan interests between ruling and opposition parties. Speaker Kim said, "The Democratic Party emphasized the need to improve the ministerial confirmation system when it was the ruling party. The People Power Party stressed strengthening the National Assembly's legislative authority and stopping political use of enforcement ordinances when it was the opposition." He added, "The public will pay attention to changes in the positions of both parties," thereby pressuring the ruling and opposition parties toward political compromise on this issue based on public opinion.

In the minority ruling party environment, Speaker Kim, originally from the Democratic Party, also expressed his ambition to connect the ruling party, opposition, and government. He promised, "During my two-year term as Speaker, I will focus on building bridges of cooperation," and pledged, "I will work hard to build strong bridges not only between ruling and opposition parties but also between the government and the National Assembly, and between the President and the opposition."

Speaker of the National Assembly Kim Jin-pyo holds an inauguration press conference at the National Assembly on the 28th. Photo by Yoon Dong-joo doso7@

Regarding the launch of the Special Committee on Stabilizing the Livelihood Economy, Speaker Kim described it as "an emergency measure at the National Assembly level," and stated, "I will pay special attention to swiftly passing related laws. If necessary, I will attend meetings personally to provide opinions."