The Opposition Unilaterally Passes 'Lee Jae-myung's' Public Rental Housing Budget Increase Proposal in the Land, Infrastructure and Transport Committee

People Power Party Absence... Yoon's Presidential Pledge Projects Cut by 1.1393 Trillion Won

[Image source=Yonhap News]

[Asia Economy Reporter Koo Chae-eun] The National Assembly's Land, Infrastructure and Transport Committee on the 24th passed a budget bill reflecting a public rental housing budget worth 6 trillion won solely by the opposition party. The public rental housing budget is considered the 'Lee Jae-myung budget,' emphasized by Lee Jae-myung, the leader of the Democratic Party. On the 22nd, Lee stated, "We will definitely restore the public rental housing budget that was cut and disappeared."

Seventeen members of the Democratic Party and the Justice Party, belonging to the Land Committee, held a full committee meeting on the morning of the same day and approved the 2023 budget for the Ministry of Land, Infrastructure and Transport, the Administrative City Construction Agency, and the Saemangeum Development Agency. Twelve members of the People Power Party were absent from the full committee meeting that day.

The approved budget plan included a measure to revive the 5.6 trillion won public rental housing budget previously cut by the government and increase it by 5.9409 trillion won. Housing benefit support of 1.0503 trillion won and remodeling of aging public rental housing with 292.5 billion won were also increased.

On the other hand, the budget for the temporary opening of Yongsan Park and the establishment of the park plan due to the presidential office relocation was approved at 13.872 billion won, reduced by 16.56 billion won from the original government budget of 30.378 billion won. This budget was entirely cut at the Land Committee budget subcommittee on the 16th but was partially reflected and approved on this day.

Choi In-ho, the opposition party secretary of the Land Committee and a Democratic Party member, said, "We judged it appropriate to guarantee the budget related to the temporary opening of Yongsan Park, which has continued since the previous administration. Other budgets related to services due to the presidential office relocation were cut."

The absence of the People Power Party on this day was anticipated. On the 16th, at the Land Committee budget subcommittee, the Democratic Party increased the public rental housing budget by 6 trillion won and cut major project budgets of the Yoon Seok-yeol administration, including 30.3 billion won for Yongsan Park creation and opening projects and 1.1393 trillion won for public sale housing. At that time, the People Power Party opposed such amendments and did not participate in the approval.

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