Democratic Party: "Swift Review of Government's Supplementary Budget Needed... Increase Funding for Local Currency Programs"

Democratic Party:
"Will Ensure Budget and Accounts Committee Review Takes Place Next Week"

On April 22, the Democratic Party of Korea pledged to conduct a swift review of the supplementary budget bill submitted by the government. However, the party also emphasized the need to increase the overall project budget, including for local currency programs.

The party's Policy Committee stated regarding the supplementary budget submitted to the National Assembly that day, "The Democratic Party cannot ignore the hardships faced by the public. Therefore, we will immediately begin committee reviews so that the supplementary budget can be passed quickly in the National Assembly, and we will also ensure that the Budget and Accounts Committee review takes place next week."

Park Chandae, Acting Leader and Floor Leader of the Democratic Party of Korea, is speaking at the Floor Strategy Meeting held at the National Assembly on the 22nd. Photo by Kim Hyunmin

The party also signaled a major overhaul. A Policy Committee official said, "The Democratic Party will thoroughly examine whether there are any project budgets with flawed designs to ensure that resources are not wasted and that more citizens benefit." In particular, regarding the Onnuri Gift Certificate program, the official pointed out, "There is an issue where usage is limited to traditional markets and similar locations," and argued, "In order for more small business owners to benefit, the program design needs to be revised so that reimbursements can also be made through local currency."

The party also called for an increase in the size of the supplementary budget. The Policy Committee stated, "To stimulate consumption, the budget for supporting the issuance of local currency?which has proven effective?should be increased, as well as funds to revive tourism consumption that has been dampened by the recent aircraft accident and wildfires in North Gyeongsang Province."

Heo Young, a member of the Special Committee on Budget and Accounts for the Democratic Party, said at the Floor Strategy Meeting that day, "The Democratic Party previously proposed its own supplementary budget plan of 35 trillion won to the government, but the government has submitted a supplementary budget of 12 trillion won." He continued, "While we regret that the government is requesting swift passage after submitting the supplementary budget so late and citing timing concerns, we cannot ignore the public's hardships. Therefore, we will promptly review the bill in committee and ensure that the Budget and Accounts Committee can review it next week."