Four-Party Policy Council Meeting Set for the 20th... Supplementary Budget and Special Semiconductor Act on Agenda

Choi Sangmok, Woo Wonshik, Kwon Youngse, and Lee Jaemyung to Attend

Choi Sangmok, Acting President and Deputy Prime Minister as well as Minister of Economy and Finance, is attentively listening to a question from Park Jiwon, a member of the Democratic Party of Korea, during the government-wide economic inquiry held on the 13th at the National Assembly plenary session in Yeouido, Seoul. Photo by Yonhap News

The four-party National Assembly-Government Policy Council meeting will be held on February 20. Key issues currently at an impasse between the ruling and opposition parties, such as the supplementary budget (extra budget), the Special Semiconductor Act, and pension reform, are expected to be discussed.

The Office of the Speaker of the National Assembly announced to the press on February 13, "The first session of the National Assembly-Government Policy Council is scheduled to take place at 5 p.m. on the 20th."

Choi Sangmok, Acting President and Deputy Prime Minister as well as Minister of Economy and Finance; Woo Wonshik, Speaker of the National Assembly; Kwon Youngse, Emergency Committee Chair of the People Power Party; and Lee Jaemyung, leader of the Democratic Party of Korea, will attend the meeting.

Initially, the policy committee chairs of both parties agreed during a working-level meeting on February 4 to hold the policy council on either the 10th or 11th. However, the meeting was canceled due to ongoing tensions over major pending issues.

Now that the ruling and opposition parties have agreed to convene the policy council, attention is focused on whether discussions regarding the supplementary budget and other matters will make progress.

Both parties agree on the need for a supplementary budget, but they have differing views on specific procedures, scale, and items. They are also divided over the exception to the 52-hour workweek in the Special Semiconductor Act and over which party should lead the pension reform discussions.

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