"Government Doesn't Do Good" People Power Party Holds 'Price Special Committee' Alone After 'Livelihood Special Committee' Fails to Convene

"Discuss Flood Damage and Chuseok Prices"
Ministries of Economy and Finance, Land, Infrastructure and Transport, and Agriculture to Hold Joint Meeting

On the morning of the 29th of last month, at the Special Committee on Stabilizing the People's Economy held at the National Assembly, Chairman Ryu Seong-geol is conversing with the opposition party's secretary and Kim Seong-hwan, a member of the Democratic Party of Korea. 2022.7.29 [Photo by National Assembly Press Photographers] [Image source=Yonhap News]

[Asia Economy Reporter Hyunju Lee] As the possibility of holding the National Assembly's Special Committee on Livelihood Economy Stabilization became uncertain due to disagreements between the ruling and opposition parties, the People Power Party decided to hold a separate meeting on inflation-related measures on its own.

A People Power Party official stated on the 20th, "The Special Committee on Price Stabilization, which was launched as a party organization, plans to hold a meeting early next week to review prices related to the Chuseok holiday," adding, "We plan to hold the meeting together with relevant ministries such as the Ministry of Economy and Finance, the Ministry of Land, Infrastructure and Transport, the Ministry of Agriculture, Food and Rural Affairs, and the Ministry of SMEs and Startups."

The Special Committee on Livelihood Economy, which had a smooth start by passing the fuel tax reduction bill under the principle that livelihood issues transcend party lines, has not been able to schedule any meetings since its first session. It is known that it has been difficult to set a schedule for the special committee due to significant differences in positions on related bills between the ruling and opposition parties, as well as the appointment of floor managers and the budget review process in each standing committee. A People Power Party official hinted, "The Democratic Party side has implicitly expressed that since the fuel tax reduction bill passed, the special committee on livelihood economy has done all it needed to do and has no intention of cooperating with a committee that supports the government."

However, as the ruling People Power Party faces the need to check agricultural product prices following recent flood damage and prepare for the upcoming Chuseok holiday, it cannot afford to postpone livelihood-related discussions any longer. Therefore, they plan to reconvene the People Power Party's Price Stabilization Committee, which was formed before the establishment of the National Assembly's special committee on livelihood economy. Ryu Seong-gul, a People Power Party lawmaker and chair of the National Assembly's special committee on livelihood economy, also serves as the chair of the party's Price Stabilization Committee. Since the party, government, and the presidential office are scheduled to discuss flood damage support and Chuseok livelihood measures on the 28th, there is a need to discuss countermeasures beforehand.

However, it has been reported that some members of the People Power Party's Price Stabilization Committee are complaining that they believed the committee would naturally dissolve once the special committee on livelihood economy was launched, making it difficult to suddenly schedule meetings.

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