Song Eon-seok Criticizes War-Related Supplementary Budget as Pre-Election Tax Spending, Proposes Emergency Ruling-Opposition-Administration Meeting

People Power Party: "Let Us Halt Political Strife Until Economic Stability Is Restored"

Song Un-seok, Floor Leader of the People Power Party, commented on March 31 regarding the government's supplementary budget bill, stating, "They are using the war as an excuse, but in reality, it is an indiscriminate distribution of tax money ahead of the election." He added, "I propose holding an 'emergency roundtable meeting among the ruling and opposition parties and the government' to review countermeasures for the exchange rate and inflation."

Attending the party members' meeting at the National Assembly that afternoon, the floor leader said, "Currently, with food, fuel, and raw material prices skyrocketing, there are concerns about 'stagflation,' where economic stagnation and rising prices occur simultaneously. In this situation, injecting large amounts of money will further fuel inflation and cause critical problems for the economy," he stated.

Song Un-seok, Floor Leader of the People Power Party, is speaking at the party members' meeting held at the National Assembly on March 31, 2026. Photo by Kim Hyun-min

Song further explained, "The sharp rise in the exchange rate is not simply due to the war or oil prices, but is also caused by structural flaws in our industrial sector, which leads to an outflow of 20 billion dollars in foreign currency every year." He continued, "We will thoroughly review the supplementary budget in the Special Committee on Budget and Accounts to prevent a hasty budget and ensure that it truly supports crisis-hit industries and local businesses affected by the oil shock, making this a 'survival supplementary budget for people's livelihoods.'"

Regarding the National Assembly investigation into the alleged manipulation of indictments being pursued by the Democratic Party of Korea, he described it as a "modern-day legislative coup." He stated, "Calling the Daejang-dong group, who have been convicted in the first trial and are currently on trial, as witnesses for the National Assembly investigation is a clear illegal act intended to influence the trial." He also criticized the Democratic Party for raising suspicions about manipulated transcripts related to the North Korea remittance case, saying, "Splicing only parts to incite is the true act of manipulation."

Song went on to highlight the severity of the national economic crisis, stating, "Given the serious Middle East risks and the hardship faced by the people, all political strife—including discussions of investigations and revisions to special prosecution laws—should be suspended until the economy stabilizes."

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