Ruling and Opposition Parties Clash Over Blame as Budget Bill Stalls... 'Budget Deadlock' Expected Until Year-End

Ju Ho-young "Budget Negotiations on Hold Due to Lack of Progress"
Park Hong-geun "Opposition Repeatedly Concedes for People's Livelihood Economy... Ruling Party Must Make a Decision"

[Asia Economy Reporters Oh Ju-yeon and Geum Bo-ryeong] The ruling and opposition parties continue their strong standoff over next year's budget bill, with no progress made even as only about ten days remain until the 21st of this year.

On this day, Joo Ho-young, floor leader of the People Power Party, met with reporters after the party study meeting "National Sympathy" held at the National Assembly Members' Office Building in the morning and said, "There has been no change in the budget bill since the day before yesterday (the 19th)."

[Image source=Yonhap News]

He explained, "The budget issues related to the Ministry of the Interior and Safety's Police Bureau, the Ministry of Justice's Personnel Information Management Unit, local gift certificates, and the highest corporate tax rate have seen no progress, so they are on hold."

The possibility of a meeting between the floor leaders of the two parties remains uncertain.

Regarding the progress of budget negotiations with Park Hong-geun, floor leader of the Democratic Party, Joo said, "We met briefly yesterday (the 20th) afternoon, but did not meet in the evening," adding, "There are currently no scheduled plans."

The Democratic Party is also not taking a more active stance in the budget negotiations. The Democratic Party, which insists that at least the parliamentary speaker's mediation proposal be accepted, pressured the ruling People Power Party, saying it is time for them to make a decision.

At the Supreme Council meeting in the morning, Floor Leader Park said, "The Democratic Party has repeatedly made magnanimous concessions for the livelihood economy," and added, "Now it is time for the ruling People Power Party to make a decision."

He urged, "There are only ten days left this year," and said, "The Democratic Party continues to persuade the government to secure even a little more livelihood budget. We hope the People Power Party will become 'livelihood-oriented' rather than 'Yongsan-oriented' and make a responsible decision as the ruling party."

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