Kim Tae-nyeon "Emergency Standby Initiated for Supplementary Budget Processing... Re-pursuing Korean Peninsula End-of-War Declaration"

Kim Tae-nyeon, floor leader of the Democratic Party of Korea, is attending the policy coordination meeting held at the National Assembly on the 25th and delivering opening remarks. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporters Kang Nahum and Jeon Jinyoung] Kim Tae-nyeon, the floor leader of the Democratic Party of Korea, announced on the 25th, "Starting today, the Democratic Party will enter an emergency standby mode together with the people to normalize the National Assembly and pass the supplementary budget (추경)."

At the policy coordination meeting held at the National Assembly that day, Floor Leader Kim said, "If the United Future Party, upon returning to the National Assembly, again sets various conditions and uses stalling tactics, the Democratic Party will act decisively."

He added, "Joo Ho-young, the floor leader of the United Future Party, has expressed his intention to return to the National Assembly and participate in the review of the supplementary budget. We welcome Floor Leader Joo's decision," but emphasized, "However, there should be no stalling by setting detailed conditions. I hope there will be no political tricks or evasive tactics."

After expressing his intention to resign as floor leader and going into seclusion, Floor Leader Joo returned after 10 days and was unanimously reappointed at the United Future Party's meeting that day. Floor Leader Joo expressed the party's intention to participate in the supplementary budget review but decided not to submit the list of standing committee members.

Regarding this, Floor Leader Kim urged, "Considering the June National Assembly schedule, standing committees should be immediately activated starting today to begin the supplementary budget review," and requested, "(The United Future Party) to properly submit the list of standing committee members for the formation of the committees."

Floor Leader Kim continued, "The Bank of Korea analyzed that if the economic shock from COVID-19 continues, 480,000 households could go bankrupt within six months, and 760,000 households within a year. This is one of the urgent reasons why the third supplementary budget must be swiftly executed," emphasizing, "It must be processed in the June extraordinary session of the National Assembly so that execution can begin in early July."

On the occasion of the 70th anniversary of the Korean War, Floor Leader Kim also reiterated his intention to push again for a 'Declaration of the End of the Korean War.' Floor Leader Kim said, "Although 70 years have passed since the war ended, the Korean Peninsula is still technically in an armistice state. To end the tension and confrontation and transition to a permanent peace era, a declaration of the end of the war is essential," adding, "We must strengthen South Korea's role as the driver on the Korean Peninsula and push again for a declaration of the end of the war involving all parties."

He also said, "North Korean Supreme Leader Kim Jong-un's decision to suspend military action plans against the South was a wise decision," adding, "Now, when both North and South are struggling with COVID-19, is an opportunity to strengthen cooperation. We must not be shaken by temporary difficulties and need to pursue policies to improve inter-Korean relations."

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