The Democratic Party Deploys Former Statistics Korea Chief Yoo Kyung-jun to the National Assembly's Planning and Finance Committee... Cho Hae-jin Leads Subcommittee Proceedings

Assemblyman Ryu Seong-geol Tests Positive for COVID-19 Impact

Yoo Kyung-joon, People Power Party member [Image source=Yonhap News]

[Asia Economy Reporter Hyunju Lee] On the 23rd, Yoo Kyung-joon, a member of the People Power Party, was urgently deployed to the Tax Subcommittee of the National Assembly's Planning and Finance Committee, where fierce debates are ongoing between the ruling and opposition parties over key tax policies of the Yoon Seok-yeol administration, including the postponement of the financial investment income tax (Geumtu Tax) and corporate tax cuts.

Although Representative Yoo was originally a member of the Land, Infrastructure and Transport Committee, he urgently swapped committees with Foreign Minister Park Jin on this day. Minister Park, who belongs to the Planning and Finance Committee, is not active due to his cabinet appointment. This reassignment was made out of concern that discussions on tax law might face difficulties after Ryu Seong-gul, the ruling party's secretary of the Planning and Finance Committee and chair of the Tax Subcommittee, tested positive for COVID-19.

Additionally, Representative Yoo exchanged his position with Joo Ho-young, the floor leader and a member of the Tax Subcommittee. Representative Yoo is a leading 'economic expert' within the ruling party, having worked at the Korea Development Institute (KDI) and served as the head of the Statistics Korea. He also served as a member of the Tax Subcommittee of the Planning and Finance Committee during the first half of the National Assembly session.

Meanwhile, due to the impact of COVID-19 and other factors delaying the subcommittee meeting to the afternoon, the role of chairing the Tax Subcommittee is currently being carried out by Cho Hae-jin, a three-term member of the People Power Party.