Yoon Jae-ok: "Democratic Party Refuses R&D Restructuring and Tries to Revert It with a Free-Riding Approach"

"Opposition, Please Make a Choice for the Future, Not Party Interests"

Yoon Jae-ok, Acting Party Leader and Floor Leader of the People Power Party, criticized on the 19th that "the Democratic Party of Korea is completely rejecting the research and development (R&D) reform plan and trying to revert to the old budget style of taking advantage without effort." Regarding the Democratic Party's budget demands, he appealed, "It will only accelerate the period of economic contraction," and urged, "Please make a choice for the future."

At the People Power Party floor strategy meeting held at the National Assembly that day, Acting Leader Yoon cited the Bank of Korea's '80 Years of the Korean Economy (1975?2050) and Future Growth Strategy Report,' emphasizing the need to improve productivity and stressing the necessity of passing the budget bill that includes the government's R&D restructuring direction.

Yoon Jae-ok, Floor Leader of the People Power Party and Acting Party Leader, is speaking at the Floor Strategy Meeting held at the National Assembly on the 15th. Photo by Kim Hyun-min kimhyun81@

He introduced, "According to the report, if growth potential is not increased, the economic growth rate will fall to 0.6% in the 2030s and to 0% or negative growth in the 2040s," adding, "If the economic activity participation rate of the elderly decreases, the speed of economic contraction will accelerate, resulting in 0.5% in the 2030s and 0.3% in the 2040s." He continued, "For a people who achieved exemplary growth in the 20th century, this is a hard-to-believe scenario," and emphasized, "The only way to reverse the trend of economic contraction and secure future growth is through productivity improvement."

Acting Leader Yoon said, "We need to create an environment through scientific and technological advancement, ultra-gap technologies, and bold regulatory innovation. Labor reform is also essential," adding, "The Yoon Seok-yeol administration's national policy direction has been made in this direction." He pointed out, "The direction of national governance should be reflected in next year's government budget, and a representative example is R&D restructuring. The government's proposal is focused on future growth," and criticized, "The Democratic Party is completely rejecting the government's reform plan and trying to revert to the old style of R&D budget that takes advantage without effort."

He continued, "Not stopping there, the Democratic Party is demanding unilateral increases in cash-populism projects such as local currency and youth passes, pouring cold water on the government's efforts to stabilize finances," and criticized, "They openly declare that if their demands are not met, they will unilaterally pass the Democratic Party's amendment that cuts the budget for the government's key projects."

Acting Leader Yoon warned, "Is it acceptable for the main opposition party, which is part of national governance, to hold next year's livelihood hostage and openly threaten the government and ruling party?" He added, "Delaying various structural reforms and managing the economy in the Democratic Party's way will accelerate the entry into economic contraction." He concluded, "Ahead of the budget bill passage on the 20th, I once again ask for a choice for the future, not for election-driven party interests."

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