Kim Jae-won: "Hong Nam-ki, the Deputy Prime Minister, should come and report in person... The 2nd Vice Minister is not the representative of the Ministry of Economy and Finance" (Comprehensive)

[Image source=Yonhap News]

[Asia Economy Reporters Park Cheol-eung and Lee Ji-eun] Kim Jae-won, chairman of the Special Budget and Accounts Committee from the United Future Party, conducted a public inquiry on the supplementary budget review, but criticized the government for not responding within the allotted time, stating, "All responsibility lies with the government, the Democratic Party, and Deputy Prime Minister Hong Nam-ki." He also demanded that Deputy Prime Minister Hong come in person to report on the budget and answer questions.

At a press conference held at the National Assembly that day, Chairman Kim said, "I have submitted at least 22 questions to Hong Nam-ki (Deputy Prime Minister and Minister of Economy and Finance) for the supplementary budget review," adding, "I requested a direct report by 10 a.m. on the 24th, but Deputy Prime Minister Hong did not contact me at all. Around 8:49 p.m. yesterday, Second Vice Minister Koo Yoon-chul unilaterally sent a text message saying, 'We will report at 3 p.m. tomorrow,' and there has been no further communication. This morning, he did not appear at the scheduled time."

He continued, "Yesterday evening, the Ministry of Economy and Finance released materials indicating acceptance of the Democratic Party's position regarding disaster relief payments, and there was even an article about Deputy Prime Minister Hong's resignation," criticizing, "Is something wrong with the Moon Jae-in administration? The treasurer says there is no money, yet the ruling party, trying to gain votes in the general election, is trying to raid the national treasury."

Chairman Kim also said, "The Democratic Party, which is trying to pass the supplementary budget, should at least provide the minimum materials necessary for budget review," warning Minister Hong sternly, "All responsibility lies with the Moon Jae-in administration, the Democratic Party, and Minister Hong. I will continue to fulfill my duties as chairman of the Budget and Accounts Committee without any negligence according to the Constitution and legal provisions until the end of my term."

However, Chairman Kim stated that he had no intention of meeting with Vice Minister Koo at 3 p.m. that day and demanded that Deputy Prime Minister Hong come in person to report. After the press conference, Kim told reporters, "I have no intention of meeting that person (Second Vice Minister Koo Yoon-chul)," adding, "It is difficult to regard him as a representative of the Ministry of Economy and Finance."

When asked by reporters whether the review would only resume if Deputy Prime Minister Hong came, he replied, "I never said that," and added, "Give me the materials for the review. The National Assembly, as the financial control institution entrusted by the people, is requesting the submission of materials to review the budget. At least, shouldn't we know the total budget amount?"

Regarding Democratic Party floor leader Lee In-young's pressure suggesting that the president's emergency financial decree authority could be considered, Kim responded, "The constitutional emergency financial decree authority is activated when the National Assembly cannot convene," adding, "Currently, the National Assembly is open and waiting, so this is an unconstitutional statement."

Chairman Kim said, "Even when finances are executed normally, there is usually over 10 trillion won in unused budget. However, since the budget is 512 trillion won plus the supplementary budget, if a significant amount becomes unused, tens of trillions of won can be easily secured through budget adjustments," pointing out, "Looking at the 7.6 trillion won proposed by the Ministry of Economy and Finance, about 3 trillion won is cuts in civil servants' annual leave compensation, personnel expenses, and defense budget for weapons procurement."

He added, "Adjusting foreign exchange bonds means borrowing next year's money this year and increasing national debt," and expressed doubts, saying, "I also question whether it is appropriate to draw several trillion won from funds."

This content was produced with the assistance of AI translation services.