Ahn Cheol-soo, a member of the People Power Party, is presiding over the "Beyond Crisis to the Future, Civil-Military-Government Discussion" held at the National Assembly on the 12th. Photo by Yoon Dong-joo doso7@

Ahn Cheol-soo, a member of the People Power Party, is presiding over the "Beyond Crisis to the Future, Civil-Military-Government Discussion" held at the National Assembly on the 12th. Photo by Yoon Dong-joo doso7@

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Kim Ki-hyun, a member of the People Power Party, is attending the second meeting of Innovation 24 New Future titled 'Overcoming the Economic Crisis with a Human-Centered Innovative Ecosystem!' held at the National Assembly on the 13th, delivering a greeting./Photo by Yoon Dong-joo doso7@

Kim Ki-hyun, a member of the People Power Party, is attending the second meeting of Innovation 24 New Future titled 'Overcoming the Economic Crisis with a Human-Centered Innovative Ecosystem!' held at the National Assembly on the 13th, delivering a greeting./Photo by Yoon Dong-joo doso7@

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"Recently, the topic that came up in several study groups within the party was the economy. However, the external factors are so strong that the conclusion was there is no way, no sharp solution."


A second-term lawmaker from the People Power Party expressed this when asked about what countermeasures they are considering amid the crisis phase caused by the Bank of Korea’s first-ever big step rate hike and the Russia-Ukraine war situation.


Kim Ki-hyun and Ahn Cheol-soo, who are considered frontrunners for the next party leadership, each held study sessions this week. The topics were about diagnosing and overcoming the economic crisis. These gatherings were attended by so many lawmakers that they resembled a ‘plenary session.’ However, the conclusion was that no particular solutions were found. The ruling party had previously formed a special committee on price and livelihood stabilization, but leadership-level interest has not been clearly demonstrated.


Rather, the ruling party is facing difficulties with the opposition in organizing the National Assembly, and the focus is only on the power struggle over whether to control the Administration and Security Committee (Haeng-an-wi) or the Science, Technology, Information and Broadcasting Committee (Gwa-bang-wi). The Gwa-bang-wi was one of the least popular standing committees, even reducing its membership by one in the first half of the 21st National Assembly, but now it has degenerated into a battleground for political forces to secure media dominance.


Recently, the party and government have also focused on security issues. The Ministry of Unification unusually released photos of forcibly repatriated North Korean fishermen. While this may be a method to rally conservatives, it seems unlikely to significantly boost the approval ratings of not only the ruling party but also President Yoon Seok-youl.



It is true that external factors such as US interest rate hikes and rising raw material prices are significant, and everyone knows it is difficult to come up with a quick fix to the economic crisis. However, as the ruling party, they should at least show that they are prioritizing the livelihood of the people in their deliberations. Even with 40 to 50 lawmakers putting their heads together, no clear alternatives have been presented, so the study groups end up appearing merely as venues for ‘showing off.’


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

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