Choi Sang-mok: "Opposition's Reduced Budget Causes National Function Paralysis... Deep Regret"

Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok expressed "deep regret" on the 29th over the Democratic Party of Korea's unilateral passage of the 'reduced budget proposal.'

On the same day, the opposition party passed next year's budget proposal reflecting only cuts without any increases. This is the first time in history that a reduced budget proposal has been passed solely by the opposition party. Ruling party lawmakers left the chamber just before the vote.

Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok is announcing the government's position on the partial amendment to the National Assembly Act (abolition of the automatic referral system) at the Government Seoul Office in Jongno-gu, Seoul, on the 28th. Photo by Jo Yong-jun

In a statement, Deputy Prime Minister Choi said, "The opposition party irresponsibly abandoned the livelihood of the people by presenting and unilaterally passing an excessive reduced budget proposal."

He pointed out, "The opposition party's unilateral reduced budget proposal will paralyze the basic functions of the state," adding, "The significant cuts to the contingency fund will prevent immediate response to unforeseen events such as disasters and accidents, and the complete elimination of special activity expenses and specific task expenses will make it difficult for the prosecution and police to investigate new types of livelihood-related crimes and for the Board of Audit and Inspection to audit illegal and improper acts."

He continued, "It will also miss the golden time to respond swiftly to waves of uncertainty," and said, "It will be difficult to timely respond to universal tariffs expected after the inauguration of the new U.S. administration and the global supply chain restructuring, and setbacks in strengthening competitiveness in semiconductors and artificial intelligence (AI) are inevitable."

Deputy Prime Minister Choi added, "It will also become difficult to provide tailored support to small business owners and vulnerable groups or to revitalize local economies that are still facing difficulties."

Deputy Prime Minister Choi emphasized, "The damage caused by the opposition party's unilateral passage of the reduced budget proposal ultimately falls on the people," and urged, "The opposition party should stop the unilateral passage of the reduced budget proposal and engage in budget agreement negotiations, and the government will actively cooperate (in reaching an agreement)."