Lee Jae-myung: "Will Try to Maximize Local Currency Budget... Will Negotiate if Government Proposes Amendments"

Lee Jae-myung, leader of the Democratic Party of Korea, stated on the 1st regarding the National Assembly's budget review, "The budget we are focusing on the most is the local currency budget," and added, "We will strive to increase the related budget."

Lee Jae-myung, leader of the Democratic Party of Korea, is speaking at the Supreme Council meeting held at the National Assembly on the 29th. Photo by Kim Hyun-min

Earlier, on the 29th, the Democratic Party had unilaterally passed next year's budget bill at the National Assembly's Budget and Accounts Special Committee, reflecting only cuts without any increases.

However, Lee's remarks are interpreted as indicating a willingness to engage in additional budget negotiations, including an increase in the local currency budget.

At a meeting with merchants at Jukdo Market in Pohang, Gyeongbuk today, Lee said, "Local currency is something I created, but among the policies implemented, it is the most complex and effective policy," adding, "The government seems reluctant to increase the related budget."

He continued, "Since we only have the authority to cut, we passed a plan to cut unnecessary budgets at the National Assembly's Budget and Accounts Committee," and said, "Although there is little time left, we will try to increase the (local currency related budget) as much as possible."

Earlier, at a meeting with Lee Cheol-woo, governor of Gyeongbuk Province, at the Gyeongbuk Provincial Office, Lee also addressed the issue of budget support for the '2025 Gyeongju Asia-Pacific Economic Cooperation (APEC)' project, saying, "Regarding the APEC project, we realistically sympathize with the matter," and "If an increase is needed, a revised proposal can be submitted."

Lee Hae-sik, chief secretary to the party leader, told reporters after the meeting, "He said that if a revised proposal is submitted (by the government, etc.), there is a willingness to negotiate," and explained, "The floor leader's position is that if there are objections to the cuts, a supplementary budget (Chugyeong) should be prepared."