Baek Younghyun’s Campaign Refutes Park Yoonkook’s ‘No Budget’ Remark... “Proactive Fiscal Management for Citizens’ Livelihoods”

Baek Younghyun’s Campaign Team Responds to Park Yoonkook’s Claim of “Budget Exhaustion”
Baek Younghyun’s Team: “Utilizing the Fiscal Stabilization Fund Is Proactive Administration”

The campaign team of Baek Younghyun, candidate for Pocheon Mayor from the People Power Party, has strongly refuted the claim by Park Yoonkook, the Democratic Party candidate for Pocheon Mayor, that "there is not a single won in the budget." The team stated, "The utilization of the Fiscal Stabilization Fund is proactive administration for the benefit of citizens and the local economy."

2025 Financial Stabilization Fund Formation Ratio. Provided by the campaign of Baek Younghyun

On May 16, Baek Younghyun’s campaign issued a statement saying, "The Fiscal Stabilization Fund is not simply money set aside; it is a system designed to be actively used when necessary to protect citizens’ livelihoods and the local economy. As the economic situation felt by citizens has become challenging due to the economic downturn after COVID-19, rising prices, and increased labor costs, fiscal measures for constant crisis response were needed."

The campaign cited explanatory materials posted on the Pocheon City Hall website on December 25 of last year, emphasizing, "The Fiscal Stabilization Fund is an institutional mechanism to prepare for economic downturns or decreases in revenue, and it is premised on timely utilization to stabilize citizens’ lives and revitalize the local economy."

Pocheon City explained that at that time, it used the Fiscal Stabilization Fund to carry out projects aimed at improving residential conditions, such as expanding the road network by opening new urban planning roads, creating public (Ssamji) parking lots, and developing the Pocheoncheon Blueway and Taebong Neighborhood Park. Additionally, the fund was used for projects to restore the local economy and enhance citizen welfare, including a pilot project for an educational advancement special zone, strengthening education and care services, and projects to resolve inconveniences in daily life for residents.

The campaign stated, "During the COVID-19 pandemic, as the execution of key projects was restricted, the Fiscal Stabilization Fund accumulated to 418.5 billion won as of 2022, reaching 35.6% of the general account. There was also criticism at the time that fiscal management was excessively passive."

The team further explained, "If the fund is excessively accumulated, the available resources in the general account decrease, making it difficult to pursue necessary projects for citizens. If timely investments are delayed, citizen inconvenience and fiscal rigidity intensify, and only the opportunity cost increases."

The campaign also highlighted Pocheon City’s fiscal soundness. According to the campaign, as of the end of November last year, the average ratio of the Fiscal Stabilization Fund to the general account among the 31 cities and counties in Gyeonggi Province was around 3%, while Pocheon City operated a relatively large fund at 7.9%. Excluding a few local governments with the highest fund accumulations, most municipalities were found to be operating the fund at about 1.2% of the general account.

In addition, the eighth popularly elected Pocheon City was selected as the top local government in the fiscal operations improvement category in the Ministry of the Interior and Safety’s "2025 Local Government Fiscal Analysis."

A representative of Baek Younghyun’s campaign said, "In times of recession, proactive administration that boldly invests where needed for citizens and the local economy is necessary, rather than passive administration that clings to the budget. During the ninth popularly elected term, we will continue to focus fiscal operations on stabilizing livelihoods, revitalizing the local economy, creating jobs, and supporting vulnerable groups to achieve a balanced approach to fiscal soundness and efficiency."

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