Security Office: "Budget for Security Facilities at Yoon's Residence After Retirement Not Yet Confirmed... Considering Inflation"

Yoon's Post-Retirement Residence Security Facility Budget 14 Billion Won
Double Compared to Previous Government...Opposition Calls It "Excessive"
Security Office "Will Confirm Once Residence Location Is Decided"

President Yoon Suk-yeol is answering questions from the press during a national briefing and press conference held at the briefing room of the Presidential Office building in Yongsan, Seoul, on the morning of the 29th. [Image source=Yonhap News]

The Presidential Security Service stated on the 5th that the budget for the security facilities at the residence where President Yoon Seok-yeol will live after his retirement has more than doubled compared to the previous administration, clarifying that "this is a provisional estimated amount and has not been finalized."

The Security Service explained, "Since the location of the residence has not yet been decided, the estimated amount is based on the land prices in the Seoul and Gyeonggi areas, reflecting the scale of the relocated security facilities," adding, "The costs for purchasing the land and constructing the security facilities were calculated based on government regulation guidelines and include adjustments for inflation."

They continued, "The government budget proposal is a provisional amount prepared considering the metropolitan area, differing only in land acquisition costs, and once the residence location is finalized, the detailed budget will be applied and confirmed."

Earlier, Choi Min-hee, a member of the Democratic Party of Korea, pointed out that approximately 13.98 billion won was allocated for the construction of security facilities at President Yoon's residence after his retirement, based on the 'Budget and Fund Operation Plan Project Explanation Materials' submitted by the Ministry of Economy and Finance.

Considering that the security budget for former President Moon Jae-in's residence was 6.2 billion won and for former President Park Geun-hye's residence was 6.7 billion won, this amount is more than twice as much.

In response, some opposition party members criticized that the budget for constructing the security facilities was excessively allocated amid a tightening fiscal policy due to a large-scale tax revenue shortfall.

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