The Budget Season Begins... Attention on Yoon-Lee Meeting Amidst Power Struggle Between Ruling and Opposition Parties

People Power Party Emphasizes "Passing Budget Within Legal Deadline"
Democratic Party Criticizes "Budget Neglecting Livelihood Issues"
Focus on President Yoon and Lee Jae-myung's Meeting on the 31st

The ruling and opposition parties are entering a power struggle over next year's government budget, which amounts to 657 trillion won. The People Power Party emphasizes the 'passage of the budget within the legal deadline,' but the Democratic Party criticizes the government budget as a 'budget that abandons people's livelihoods,' making a fierce clash expected during this year's budget review as well. President Yoon Seok-yeol is expected to meet Lee Jae-myung, leader of the Democratic Party, ahead of his policy speech on the next year's budget at the National Assembly on the 31st, drawing attention to whether this will open the way for cooperation.

Yoon Jae-ok, floor leader of the People Power Party, said at a party meeting held at the National Assembly on the 30th, "We expect the opposition's offensive regarding next year's budget to be intense," adding, "Please respond thoroughly from the committee review stage and explain properly to the public with responsibility at the Budget and Accounts Committee, and do your best to ensure the budget passes within the legal deadline."

Yoon Jae-ok, floor leader of the People Power Party, is speaking at the party meeting held at the National Assembly on the 30th. Photo by Hyunmin Kim kimhyun81@

This budget review is the last of the 21st National Assembly and is taking place about five months before next year's general election, so competition to secure populist budgets is expected to be fiercer than ever. The Democratic Party is demanding a full re-examination of the government budget.

Hong Ik-pyo, floor leader of the Democratic Party, said at a party meeting held at the National Assembly in the afternoon, "Because the government has submitted an unprecedented budget this time, I hope the Budget and Accounts Committee members and each standing committee conduct a much more meticulous review." He added, "We evaluate this budget as one where the government has completely abandoned people's livelihood issues and the national economy," warning, "If the budget review process is going to be controlled by the Presidential Office as it was last year, telling us what to do, then we will not even negotiate with the ruling party." Hong also said, "We will respect the legal deadline, but only on the premise that the government brings amendments on livelihood issues and respects the National Assembly's review rights."

Hong Ik-pyo, the floor leader of the Democratic Party of Korea, is speaking at the party meeting held at the National Assembly on the 30th. Photo by Hyunmin Kim kimhyun81@

The ruling and opposition parties will hold a plenary session on the 9th of next month to handle contentious bills. Significant differences over the Yellow Envelope Act and the three broadcasting laws are expected to make the path difficult.

On that day, Floor Leader Yoon encouraged party members to filibuster (legal obstruction of parliamentary proceedings) against bills such as the Yellow Envelope Act (Amendment to the Labor Union and Labor Relations Adjustment Act) and the three broadcasting laws (Amendments to the Broadcasting Act, the Korea Broadcasting Promotion Foundation Act, and the Korea Educational Broadcasting System Act), saying, "We must prevent the passage of bills that have not reached social consensus and cause harm to the public." Later, in a meeting with reporters, he said, "We plan to quickly handle urgent bills such as the Disaster and Safety Basic Act, the Corporate Restructuring Promotion Act, and the Outdoor Advertising Act," and added, "We hope the opposition will cooperate from a magnanimous perspective."

On the other hand, the Democratic Party plans to proceed not only with the passage of contentious bills like the Yellow Envelope Act but also with the '4 National Investigations and 1 Special Prosecutor' plan.

Choi Hye-young, spokesperson for the Democratic Party floor, told reporters after the party meeting, "We plan to push for the passage of the Yellow Envelope Act and the Broadcasting Act on November 9," adding, "Since the People Power Party plans to filibuster, it will likely continue until the 13th."

She also announced, "We have decided to push for a state audit regarding the Seoul-Yangpyeong Expressway, the Marine Corps Sergeant Chae Sang-byeong investigation interference case, the Board of Audit and Inspection (suspected targeted audits), and broadcasting control." Furthermore, she said a task force will be formed within the party concerning the national research and development (R&D) budget and prosecution special activity funds, and that a special prosecutor law related to allegations of stock price manipulation involving Kim Geon-hee, wife of President Yoon Seok-yeol and former CEO of Covana Contents, will be "handled promptly."

However, despite the tense standoff, both parties are expected to uphold the previously agreed "gentlemen's agreement" during President Yoon's policy speech scheduled for the 31st. The Democratic Party has decided not to hold hand signs or shout boos during the president's policy speech on next year's budget at the National Assembly plenary session.

A face-to-face meeting between President Yoon and Leader Lee is also expected during the pre-speech informal talks.

Spokesperson Choi said, "When the president comes to the National Assembly tomorrow, pre-talks will be held, and the party leader and floor leader will attend together."

This pre-talk meeting between President Yoon and Leader Lee is expected to be the first communication opportunity since the current government took office. Until now, President Yoon and Leader Lee have only exchanged brief greetings at government ceremonies. Attention is focused on whether this will open the way for cooperation amid the fierce budget battle between the ruling and opposition parties.

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