Kim Tae-nyeon: "Breakdown of Tripartite Agreement Due to Unreasonable Demands by Some Hardliners"

"Increase Youth Budget in the 3rd Supplementary Budget Proposal"

Kim Tae-nyeon, floor leader of the Democratic Party of Korea, is attending the policy coordination meeting held at the National Assembly on the 2nd and delivering an opening remark. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Wondara] Kim Tae-nyeon, the floor leader of the Democratic Party of Korea, criticized the failure of the tripartite agreement due to the absence of the Korean Confederation of Trade Unions (KCTU) as "unreasonable demands by some hardliners." Regarding the third supplementary budget, he stated, "We will conduct a microscopic review" and announced plans to add budgets related to youth.

At the policy coordination meeting held at the National Assembly on the morning of the 2nd, Floor Leader Kim said, "It is very regrettable that the tripartite agreement failed yesterday," adding, "The KCTU made demands that are socially unacceptable, leading to the failure."

He continued, "It is difficult to take even one step at a time, so trying to take ten steps at once is excessive," emphasizing, "All members of the community must cooperate to cross the river of the 2020 crisis. The unreasonable demands of some hardliners only become obstacles to crossing the river."

He further stressed, "Looking at other countries' cases, those that achieved social grand compromise advanced to become developed countries, while those that did not either stagnated or regressed," and added, "We must complete the tripartite grand compromise before it is too late. The crisis sensitivity of some hardliners in the labor sector needs to increase."

Regarding the third supplementary budget bill scheduled to be processed at the plenary session on the 3rd, he said, "It is the Democratic Party's responsibility to manage the national budget meticulously as if managing one's own household," and added, "We will conduct a more precise and detailed microscopic review at the budget subcommittee."

He also stated, "The Democratic Party will add a youth-tailored budget for those in their 20s, who are relatively marginalized, to the third supplementary budget," and explained, "We will increase the budget for expanding Jeonse rental housing near transit stations, additional supply of multi-family houses, and enabling youth to utilize IT capabilities to find employment in small and medium-sized enterprises. We will also support youth ideas in non-face-to-face industries to lead to startups."

Cho Jeong-sik, chairman of the Democratic Party's Policy Committee, criticized, "The United Future Party says it will return to budget review if the supplementary budget processing is postponed to the 11th, but this is merely a stalling tactic."

He added, "The claim that the supplementary budget review is hasty is nothing but a trivial complaint," emphasizing, "The party and government have discussed detailed contents from the budget formulation stage. We are reviewing the supplementary budget thoroughly."

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