National Assembly's '3rd Supplementary Budget' Likely to Face Difficulties... "To Be Processed Within This Month" vs "Is the National Assembly a Rubber Stamp?"

[Image source=Yonhap News]

[Asia Economy Reporter Kim Hyemin] An additional supplementary budget bill (supplementary budget) worth 35.3 trillion won will be submitted to the National Assembly on the 4th. Both ruling and opposition parties agree on the need to expand fiscal spending to overcome the 'post-COVID' crisis, but the process of handling it is expected to be challenging. Immediately, Joo Ho-young, floor leader of the United Future Party, expressed caution regarding the Blue House's request to process it "within this month."

Kang Ki-jung, Senior Secretary for Political Affairs at the Blue House, emphasized the high execution rate of the first and second supplementary budgets during a meeting with Kim Jong-in, Emergency Committee Chairman of the United Future Party, on the 2nd, saying, "Please make sure the third supplementary budget is processed within June." Kim Tae-nyeon, floor leader of the Democratic Party of Korea, also stated at a party-government meeting on the 1st, "We will definitely process it within June."

As the Blue House and the ruling party showed their determination, naturally drawing attention to whether it would be processed "within this month," Floor Leader Joo intervened. When asked about this at a press conference on the 2nd, he expressed displeasure, saying, "Is the National Assembly just a rubber stamp that only passes bills?" and "35 trillion won is an enormous amount, mostly budget financed by debt, so saying it must be processed within June is nothing more than asking for a mere formality of passage." He was wary of the frame being set to "process within this month" even before the supplementary budget bill was submitted to the National Assembly.

[Image source=Yonhap News]

Floor Leader Joo left open the possibility of cooperation but stated that the appropriateness of the content must be examined. He said, "Please don't ask whether we agree or disagree. We need to look at the content first," adding, "It would be good if a lot of money is released in difficult times, but we should stretch out only after seeing where to lie down. Considering questioning as non-cooperation is dangerous."

This can also be interpreted as expressing dissatisfaction with the pressure to process it "within June" while the 21st National Assembly has just convened and the organization of the parliamentary committees has not yet been resolved. Floor Leader Joo said, "Who would smile right after being slapped? If the opening negotiations that set the rules of the National Assembly for four years are pushed through by unilateral force and we are told 'we will decide, so you follow,' we cannot concede either," adding sharply, "The Budget and Accounts Special Committee must also be formed, but if it is formed unilaterally, processing will become even more difficult."

Ultimately, the processing of the supplementary budget is expected to be seriously discussed only after the opening and organization of the National Assembly are resolved first. The ruling party's choice between pushing through or negotiating at the time of organizing the committees will also be crucial. Since the supplementary budget bill is scheduled to be the first item on the discussion table after the opening, the handling process this time is likely to determine the future relationship between the ruling and opposition parties.

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