Dispute Over Agenda Items at First Finance Meeting Despite "Minseong" Consensus

Park Chan-dae "Specific Proposal for Livelihood Support Fund"
Seong Il-jong "If Money is Released All at Once, There Will Be Economic Aftereffects"

Ahead of the summit meeting between President Yoon Suk-yeol and Lee Jae-myung, leader of the Democratic Party of Korea, the working-level teams on both sides are conducting behind-the-scenes negotiations to coordinate the timing and agenda of the talks. While both ruling and opposition parties agree that the meeting table should address pressing livelihood issues, their positions diverge on specific matters such as the '250,000 KRW nationwide livelihood recovery support fund,' making agenda coordination expectedly difficult.

On the 22nd, Park Chan-dae, a Supreme Council member of the Democratic Party, appeared on MBC Radio's "Kim Jong-bae's Focus" and commented on the significance of this summit meeting, saying, "It is difficult to expect that a single summit meeting will produce mutually satisfactory agreements," but added, "What matters is that the door to dialogue, which has not been opened even once in the past two years, is now opened by meeting." Park emphasized, "While high expectations are difficult, candid and open-hearted conversations are welcome. However, if the meeting turns out to be a complete show or a gesture to avoid imminent judgment, it will be hard to continue this dialogue."

According to Park, the issues that Lee Jae-myung emphasizes as the agenda for the summit include the livelihood support fund and special investigation laws concerning Chae Sang-byeong and First Lady Kim Geon-hee. Park stated, "Regarding livelihood, the livelihood support fund was proposed most concretely," and added, "Next, within a reasonable scope to change the national policy direction, whether to accept special investigations on Chae Sang-byeong and Kim Geon-hee." He also mentioned that the appointment of the Prime Minister is expected to be discussed.

Park criticized President Yoon Suk-yeol, saying, "During the recent livelihood debate, he proposed a populist pledge worth 1,000 trillion KRW," and added, "That is rather populism." He expressed expectations by saying, "The nationwide 250,000 KRW livelihood recovery support fund costs about 13 trillion KRW and is expected to have a significant multiplier effect," and "The livelihood recovery support fund will serve as a primer to revitalize the livelihood economy, commercial districts, small businesses, and fill the pockets of ordinary citizens."

President Yoon Suk-yeol is entering the National Assembly plenary session hall on October 31 last year to deliver the policy speech on the 2024 budget bill and fund management plan, shaking hands with Lee Jae-myung, leader of the Democratic Party of Korea. Photo by Hyunmin Kim kimhyun81@

On the same day, Seong Il-jong, a member of the People Power Party, also spoke on the same radio program regarding the summit agenda, stating, "Since there are differences in views on national governance, it is necessary to recognize the main direction on the most urgent livelihood issues and grasp this at the summit meeting," and added, "If differences on high interest rates, inflation, and livelihood issues can be narrowed, it will be quite effective."

Regarding the livelihood recovery support fund proposed by the Democratic Party as a livelihood agenda, Seong expressed concerns, saying, "The Moon Jae-in administration injected 400 trillion KRW, which led to serious high interest rates and inflation," and "Anyone who understands the economy would have to be cautious." He warned, "If money is distributed all at once to the entire population, it could cause very serious aftereffects on the economy, even though those suffering might face even greater hardship," and added, "Unless it is a selective support plan for those who are truly struggling and in difficulty."

On the special investigation law concerning Chae Sang-byeong, he emphasized, "The military transferred the Chae Sang-byeong case, and the police are currently investigating it," and said, "It is not the stage to bring up a special investigation now." Park Chan-dae argued, "Within the large framework of the state, each national institution maintains checks and balances and has its own domain," and stated, "If there are shortcomings or deficiencies in the investigation, it is appropriate to proceed with a special investigation, but proposing a special investigation on a case that is currently under investigation completely disregards the state institutions and their functions."