The Legislative Committee Subcommittee Divides 2 Seats Each Between Ruling and Opposition Parties... 'Working-Level Consultative Body' Canceled

Completed in 4 Months After Second Half National Assembly Begins
Petition Review Subcommittee Established, Assigned to People Power Party Tax Subcommittee
Democratic Party Allocated Economic Finance and Budget Fund Subcommittees
"Sorry to the Public for Delayed Formation"

[Image source=Yonhap News]

[Asia Economy Reporter Hyunju Lee] The National Assembly's Planning and Finance Committee completed the distribution of subcommittees on the 16th. It has been about four months since the second half of the National Assembly began.

On the same day, the Planning and Finance Committee's ruling and opposition party secretaries reached an agreement at the National Assembly regarding the operation of the committee's subcommittees and announced the related details. The Planning and Finance Committee was the only standing committee in the National Assembly without a formed subcommittee.

The ruling party, the People Power Party, agreed to take charge of the Tax Subcommittee and the Petition Review Subcommittee for two years, while the opposition and majority party, the Democratic Party, agreed to handle the Economic and Fiscal Subcommittee and the Budget and Accounts Subcommittee.

Although the second half of the National Assembly has started, the Planning and Finance Committee had faced difficulties in reviewing bills and budgets due to the lack of subcommittee formation. The ruling and opposition party secretaries of the committee finally decided to establish the Petition Review Subcommittee and each take charge of two subcommittees.

Regarding the dramatic formation of the subcommittees, Ryu Seong-geol, the People Power Party secretary, said, "The basic work of the National Assembly is to review budgets and bills, and I apologize once again for the delay in forming the subcommittees," adding, "We will expedite the review process."

Shin Dong-geun, the Democratic Party secretary, also stated, "Since bill reviews will begin in earnest until the national audit, we consulted with each other and handled it accordingly."

At a closed meeting among People Power Party Planning and Finance Committee members that morning, it was decided not to form the working-level consultative body that would have been created if the subcommittees were not formed.

Regarding this, Representative Ryu said, "Whether the subcommittees are formed or not, we suggested holding consultations quickly, but since the subcommittees have been formed, there is no need to establish a consultative body," adding, "The budget-related bills (tax laws) must be processed by November 30."

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