Budget Adjustment Subcommittee Starts Today
Reductions in Yongsan Park and Cheongwadae Relocation Projects
Lee's Key Project 'Local Currency' Increased
Conflict with Government Expected Over Increase... Joo Ho-young Urges "Cooperation for Success"
[Asia Economy Reporters Lee Ji-eun, Na Ju-seok] As detailed deliberations on next year's budget plan worth 639 trillion won began on the 17th, the budget war between the ruling and opposition parties has also intensified. Since the opposition party indiscriminately cut the 'Yoon Seok-yeol budget' as predicted and increased the 'Lee Jae-myung budget,' the confrontation between the ruling and opposition parties over the Yoon Seok-yeol administration's national agenda budget is expected to be more severe than ever.
The National Assembly's Budget and Accounts Special Committee held the first Budget Adjustment Subcommittee meeting of the year on this day to review next year's budget plan. The Budget Adjustment Subcommittee serves as the final gateway for budget review in the National Assembly, and fierce disputes over cuts and increases are expected.
The intense clashes in the subcommittee were already foreshadowed as significant differences in budget increases and decreases appeared during the preliminary review process by standing committees. The opposition party drastically cut budgets related to key projects of the Yoon Seok-yeol administration, such as the Presidential Office and the Blue House parkification, while significantly increasing budgets for projects advocated by Lee Jae-myung, leader of the Democratic Party of Korea, such as local currency.
The day before, the Land, Infrastructure and Transport Committee's Budget Subcommittee, led by the opposition, decided to cut the entire 30.3 billion won budget for the 'Yongsan Park Development Project.' Although the reason given was that the cleanup of the US military return site to be used as Yongsan Park had not been completed, it was essentially seen as a project related to the relocation of the Presidential Office. The budget for housing loan financing (1.1393 trillion won) was also reduced. Ruling party members protested this by walking out of the meeting. In the Foreign Affairs and Unification Committee, the budget for the diplomatic network (2.1 billion won) to replace the State Guest House was also cut.
The full meeting of the Public Administration and Security Committee was disrupted over the budget for the 'Police Bureau' promoted by the government. The Democratic Party had previously cut the entire 600 million won budget for the Police Bureau in the Budget Subcommittee, but Lee Chae-ik, chairman of the Public Administration and Security Committee from the People Power Party, decided not to submit the Police Bureau budget, leading to a confrontation between the ruling and opposition parties. The Budget Subcommittee of the Public Administration and Security Committee also decided to cut the budget for the Digital Platform Government Committee (300 million won), which the government is ambitiously promoting, and the operating expenses (2 billion won) for the Presidential Commission on National Unity. The budget for the prosecution's four major crimes (4.4 billion won) is also planned to be cut.
In the Environment and Labor Committee's Budget Subcommittee, the budget related to the National Employment Support System project was cut by 1.7 billion won, and the budget related to the generational coexistence wage system promoted by the Yoon administration (9.1 billion won) was also cut.
The budget for opening and utilizing the Blue House (5.9 billion won), as well as the budget for creating a complex cultural and artistic space at the Blue House, was cut by 750 million won, and the budget for Blue House area projects related to the operation of the National Museum of Korean Contemporary History was reduced by 600 million won as it passed to the Budget Subcommittee. Budgets for supporting cultural and artistic organizations, performing arts support, and outdoor performances at the Blue House were also cut. Additionally, the budget for the 'Blue House Complex Cultural and Artistic Space Creation' project was cut by 750 million won.
However, in the Industry and Energy Committee, the budget for semiconductor facility investment infrastructure support (100 billion won), which President Yoon showed interest in, was approved, and the innovative Small Modular Reactor (SMR) project (3.8 billion won) was also passed as originally proposed, achieving some success.
On the other hand, the opposition party increased budgets for projects prioritized by Lee Jae-myung and the Democratic Party. The budget for supporting the issuance of local love gift certificates was increased by 705 billion won, and the rental housing budget (6.384 trillion won), which the government had cut, was restored. Additionally, the budgets for renewable energy (166.8 billion won), the Youth Tomorrow Employment Deduction project (30.2 billion won), the disabled employment management support project (27.4 billion won), and the employment retention support fund project (49.3 billion won) were increased.
The ruling party is protesting the opposition's unilateral cuts in standing committees and trying to defend, but the problem is that there is no effective way other than requesting cooperation from the opposition in the 'minority ruling, majority opposition' structure. Since increases are under the authority of the Ministry of Economy and Finance, the government is likely to get involved in the confrontation between the ruling and opposition parties. On this day, Joo Ho-young, floor leader of the People Power Party, raised his voice at the emergency meeting, saying, "We must allow the new government to work. Please stop being obstinate and cooperate for the success of the Republic of Korea."
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