2023-11-23 11:51:38
On the followingnoon of the 1st, when the ‘Mega Seoul’ controversy overtook the political world as the People Power Party announced that it would pursue the incorporation of Gimpo-si, Gyeonggi-do, etc. into Seoul as a party line, a placard was posted at a crosswalk in Janggi-dong, Gimpo-si, Gyeonggi-do, saying that it is good for incorporation into Seoul./News 1
The Democratic Party of Korea independently voted on the 23rd to revise the National Finance Act, which mainly includes exemption from the preliminary feasibility study (pre-feasibility study) for the ‘Gimpo extension of Seoul Subway Line 5’. When the ruling party brought up the ‘mega city’ plan, starting with the incorporation of Gimpo, Gyeonggi-do, into Seoul, it put forward the preliminary tax exemption as a counterweight. The ruling party said, “It is a legislative monopoly that destroys the foundation of the Yeta system.”
On this day, the Democratic Party held a separate meeting of the Economic and Finance Subcommittee of the Planning and Finance Committee and passed a resolution on the National Finance Act amendment. This is an exemption from pre-trial for metropolitan area railway expansion projects that include border areas with a population of 500,000 or more. Gimpo and Paju, Gyeonggi-do are the target areas. In fact, the interpretation is that the law is aimed at the Gimpo extension project of Seoul Subway Line 5. Recently, the Democratic Party decided to promote this bill as a party line as a counter to the People Power Party’s incorporation of Gimpo and Seoul. The Line 5 extension is a project to build a new 23.89km stretch from Banghwa Station in Seoul to Janggi Station in Gimpo via Geomdan New Town.
The People Power Party protested, saying, “It might shake the foundation of the yet-to-be system.” The position is that if bills are revised one by one to expand the transportation network in specific regions, the National Finance Act will become tattered and the preliminary system will eventually collapse. According to the current National Finance Act, new projects with a total project cost of 50 billion won (30 billion won in government funds) or more must undergo a preliminary evaluation to determine whether to start. The Ministry of Strategy and Finance, the ministry in charge, is also opposed. An official from the Ministry of Strategy and Finance said, “If the bill is in tatters like this, the preliminary examination system becomes meaningless.”
Whether Gimpo meets the ‘population of 500,000’ requirement is also an issue. According to the National Statistical Office, the population of Gimpo City as of the end of last year was regarding 480,000, but including foreign residents, the number exceeds 500,000. The Democratic Party’s position is that foreigners should also be included.
On this day, fiscal rules that strictly manage the fiscal deficit or national debt were not even discussed. Originally, the Economic and Finance Subcommittee planned to discuss enacting financial rules on this day, but it was not even properly discussed due to the ‘Gimpo extension of Line 5’. If this continues, it is highly likely that the fiscal rules bill, which has been discussed since October 2020 during the Moon Jae-in administration, will be scrapped in the 21st National Assembly.
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