Jinseongjun Criticizes Hong Nam-ki for "Fiscal Dictatorship" Over Opposition to Nationwide Disaster Relief Fund

Jinseongjun, a member of the Democratic Party of Korea, is giving a greeting at a discussion forum seeking the role of the government and the National Assembly to resolve the Coupang incident, held on the afternoon of the 5th at the Korea Federation of Small and Medium Business in Yeouido, Seoul.
[Image source=Yonhap News]

[Asia Economy Reporter Kim So-young] Jin Seong-jun, a member of the Democratic Party of Korea, sharply criticized Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, who opposed the nationwide disaster relief fund, asking, "Are you advocating for fiscal dictatorship?"

On the 14th, Jin posted on his Facebook, stating, "Deputy Prime Minister Hong Nam-ki said he 'does not agree' with the universal payment plan for the nationwide disaster relief fund and added, 'I do not think fiscal management should follow political decisions.'"

He said, "There may be opinions on the method or recipients of the disaster relief fund as the Deputy Prime Minister and Minister of Economy and Finance," but added, "However, I cannot overlook the statement that fiscal management cannot follow political decisions."

He continued, "It is the exclusive authority of the legislative branch, the National Assembly, to review and finalize the budget," raising his voice, "If fiscal authorities deny this, the only thing left is fiscal dictatorship."

He emphasized, "Whether to support all citizens suffering from the COVID-19 pandemic or only some citizens, the Deputy Prime Minister's personal views or convictions should be respected as such, but the final decision ultimately belongs to the National Assembly, the representatives of the people. The responsibility also rightfully lies with the National Assembly."

He also pointed out, "The Deputy Prime Minister's courageous(?) remarks are a serious incident that ironically reveals the necessity of fiscal democratization," and added, "It is time to soberly examine whether the Ministry of Economy and Finance, which has tightly held and wielded all fiscal authority, is finally rejecting politics and ruling over the people."

Jin further argued, "The top priority should be to redistribute the excessively concentrated power in the Ministry of Economy and Finance and seek ways to democratically control it."

He added, "President Kim Dae-jung, immediately after achieving a historic horizontal regime change, divided the Ministry of Finance and Economy into the Planning and Budget Office and the Ministry of Finance and Economy to disperse fiscal power and ensure democratic control, and President Roh Moo-hyun also inherited this system as it was," concluding, "Now is the time to revisit those historical experiences."

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