National Assembly Budget Committee, First Day of Comprehensive Policy Questions... Anticipated Debates on R&D Budget and More

'Comprehensive Policy Inquiry' Evaluating 2023 Settlement Details
Democratic Party: "Cabinet Members' Absence Disregards the People"
People Power Party: "Let's Restrain Political Strife and Cooperate Between Ruling and Opposition"

The National Assembly's Special Committee on Budget and Accounts (Budget Committee) has begun comprehensive policy questioning to review the government’s settlement of accounts for the 2023 fiscal year. The ruling and opposition parties will evaluate whether the government properly executed the budget in accordance with the budget plan decided by the National Assembly at the end of last year. In the context of a ruling party minority and opposition majority, opposition parties including the Democratic Party of Korea are expected to question the government about revenue shortfalls and other issues.

On the morning of the 2nd, the Budget Committee held a plenary session at the National Assembly and conducted comprehensive policy questioning. Early in the meeting, opposition lawmakers pointed out the issue of cabinet members’ absence. Heo Young, the Democratic Party’s secretary, claimed, "There is a reasonable suspicion that unnecessary schedules such as overseas trips were deliberately arranged to coincide with the review period." Lawmaker Hwang Jeong-a said, "The scientific community was devastated by the aftermath of last year’s R&D (Research and Development) budget cuts," adding, "We will firmly secure the livelihood economy and R&D budget."

Prime Minister Han Duck-soo is speaking at the plenary meeting of the Special Committee on Budget and Accounts held on the 2nd at the National Assembly for the 2023 fiscal year settlement review. Photo by Kim Hyun-min kimhyun81@

Ruling party lawmakers emphasized concluding the settlement review through 'cooperation.' Kim Seung-su of the People Power Party said, "Let’s work together in this Budget Committee," and Eom Tae-young said, "I hope that, at least for the settlement review directly related to people’s livelihoods, we can refrain from political strife and provide hope through bipartisan cooperation." Since the opposition holds the majority in the National Assembly, this is an appeal for opposition cooperation in the government’s settlement execution. The Budget Committee consists of 28 members from the Democratic Party, 18 from the People Power Party, and 4 from non-negotiating parties (2 from the Party for National Innovation, 1 from the Progressive Party, and 1 from the Reform Party).

The Budget Committee will conduct comprehensive policy questioning until tomorrow, and on the 4th and 5th, it will hold sectoral reviews for economic and non-economic ministries’ settlements, respectively.