Special Committee Continues Second Day of Policy Inquiry... Supplementary Budget and Tariff Negotiations in Spotlight

The National Assembly's Special Committee on Budget and Accounts will continue its comprehensive policy inquiry for a second consecutive day on April 29, reviewing the supplementary budget bill of 12.2 trillion won submitted by the government.

On the 28th, Park Jung, the chairman, is striking the gavel at the Budget and Accounts Special Committee held at the National Assembly. Photo by Kim Hyunmin

According to political sources, the plenary session scheduled for the morning will be attended by Choi Sangmok, Deputy Prime Minister and Minister of Economy and Finance, as well as ministers from each government department. Han Ducksoo, Acting President and Prime Minister, is unlikely to attend, as he did not participate the previous day.

During the plenary session, a heated debate is expected between the Democratic Party and the People Power Party regarding the size of the supplementary budget. The Democratic Party insists that the supplementary budget should be increased to 15 trillion won to boost domestic demand. In contrast, the People Power Party opposes any further increase, citing concerns over fiscal burden.

Controversies are also expected to continue over the current administration's negotiations on tariffs with the United States and speculation about Han Ducksoo's potential presidential candidacy.

Starting April 30, the Special Committee will convene the Budget Adjustment Subcommittee to review possible reductions or increases to the supplementary budget bill. If an agreement is reached within the subcommittee, a plenary session will be held on May 1 to review and vote on the supplementary budget. If the bill passes the Special Committee, there is also a possibility that a 'one-point' plenary session will be convened on the same day to process the supplementary budget bill.

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