National Taxpayer Money 170 Billion Won... Coronation of 'Charles III' Draws Criticism

Elizabeth II's wealth doubled... 'Charles III's personal fortune 3 trillion' draws cold public opinion
Time magazine "Contrasts with UK's bleak economy amid high inflation and ongoing strikes"

Media reports have revealed that the cost of the coronation of King Charles III of the United Kingdom, scheduled for the 6th of next month (local time), will amount to at least 100 million pounds (approximately 168.5 billion KRW). In particular, the British public views the coronation, which involves a large expenditure of taxpayers' money, unfavorably.

[Image source=AP Yonhap News]

On the 28th (local time), the American news magazine Time reported that the coronation and celebratory events such as the Windsor Castle concert "will be a party befitting a king and will come with a matching price tag," adding that "British taxpayers are expected to pay at least 100 million pounds in costs."

British media also estimate that King Charles III's coronation will cost about 100 million pounds, roughly twice the cost of Queen Elizabeth II's coronation in 1953.

The coronation of Charles III will be held on the 6th of next month at Westminster Abbey in the United Kingdom.
[Image source=Reuters Yonhap News]

According to The New York Times (NYT), the cost of Queen Elizabeth II's coronation 70 years ago was estimated at 1.57 million pounds. Adjusted for current value, this amounts to 56 million pounds (approximately 94.4 billion KRW). Although King Charles III's coronation is planned to be more modest compared to Queen Elizabeth II's, increased security costs compared to the past have been a major factor driving up the coronation expenses.

Moreover, since the coronation costs are covered by taxpayers' money, there is ongoing debate about whether it is appropriate for the public to bear such a large sum of 100 million pounds.

Graham Smith, head of the civic group Republic, which advocates for the abolition of the monarchy, pointed out that "100 million pounds is a conservative estimate" and that "(this) is an excessive amount for taxpayers to spend." He added, "Spending 100 million pounds on a parade for one person would be far less helpful than using it for public services, homelessness, and poverty issues, which would benefit many people."

Time reported that King Charles III's lavish coronation "stands in stark contrast to the bleak economic situation in the UK, where decades of high inflation have led to a series of strikes." In recent months, hundreds of thousands of workers, including doctors and teachers, have gone on strike demanding wage increases. Time also noted that "staff at London Heathrow Airport have joined the strike wave, casting a shadow over the coronation celebrations."

Public opinion in the UK is also cold. According to a recent survey by polling company YouGov, more than half of respondents said the government should not fund the coronation costs, while only 32% supported funding. There are also those questioning why the royal family does not cover the coronation expenses themselves. According to a recent survey by The Guardian, King Charles III's personal wealth is estimated at 1.8 billion pounds (approximately 3.03 trillion KRW).

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