Second Day of Supplementary Budget Review... Ongoing 'Sappa Fight' Between Ruling and Opposition Parties

Park Hong-geun, Chairman of the National Assembly Budget and Accounts Committee, is presiding over the 2nd Adjustment Subcommittee meeting on the 2nd supplementary budget bill for 2021 at the National Assembly on the 21st. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporters Hyunju Lee and Jinyoung Jeon] The ruling and opposition parties, currently reviewing the second supplementary budget (supplementary budget) to support small business owners' damages and provide disaster relief funds, have yet to narrow their differences on increases and other aspects.

The National Assembly's Special Committee on Budget and Accounts held a supplementary budget adjustment subcommittee meeting at 10 a.m. today and continued reviewing the 33 trillion won supplementary budget for the second day. Both parties agree on the need to expand support for small business owners, but there is a significant difference in opinion on whether the supplementary budget scale should be increased to achieve this.

The Democratic Party insists that an increase in the supplementary budget scale is inevitable to expand support for small business owners and provide disaster relief funds to all citizens. If an increase is difficult, they believe that even the 2 trillion won allocated for national debt repayment should be redirected as resources. Song Young-gil, the Democratic Party leader, stated at the Supreme Council meeting today, "A substantial expansion of the Small Business Hope Recovery Fund, loss compensation support, and broad reinforcement of budgets for vaccines and jobs must be made during the review process." However, regarding the failure to reach an agreement within the party and government on the net increase in the supplementary budget or the provision of disaster relief funds to all citizens, he said, "We will work together with the government to resolve this. The party and government will also decide quickly on the disaster relief funds."

On the other hand, the People Power Party opposes increasing the expenditure scale and insists that support for small business owners should be expanded by cutting unnecessary job projects and other expenses. The People Power Party is also negative about the idea of providing disaster relief funds by expanding the supplementary budget. Lee Jun-seok, the People Power Party leader, told reporters after a meeting with senior lawmakers today, "I oppose reducing the portion for national debt repayment," adding, "The Democratic Party should also know that increasing the supplementary budget to boost consumption through disaster relief funds amid the severe quarantine situation or reducing the national debt repayment portion is unconvincing."

The supplementary budget was originally scheduled to be processed at the plenary session on the 23rd, but if circumstances are unfavorable, the ruling party may push for a unilateral vote. When the third supplementary budget was passed last year, the budget subcommittee proceeded with only Democratic Party members present.

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