National Assembly Budget Deadlock and Political Tensions: What to Expect in the Coming Weeks

2023-12-03 21:54:00

Yoon Jae-ok and Hong Ik-pyo leaving the National Assembly Speaker’s office following meeting on the 30th of last month. <사진=연합뉴스> As the ruling and opposition parties failed to meet the statutory deadline for processing next year’s budget, which was set on the 2nd, concerns are growing that the bad practice of barely passing the budget right before the 21st regular National Assembly will be repeated once more.

In particular, with only a week left until the regular session of the National Assembly, the ruling and opposition parties are expected to clash once more over the budget, the introduction of the so-called ‘dual special prosecutors’ and the implementation of a government investigation into the death of Corporal Chae in the line of duty.

Due to this strained political situation, the observation that the budget bill processing during the regular session of the National Assembly should be considered as virtually a waste of water is gaining strength.

First of all, the ruling and opposition parties seem to have no disagreement regarding holding a plenary session on the 8th.

However, the Democratic Party of Korea’s position is that it will handle the introduction of the ‘Double Special Prosecutors’ Act’, including the proposal to introduce a special prosecutor to investigate suspicions of stock price manipulation by President Yoon Seok-yeol’s wife, Kim Kun-hee, and the ‘Daejang-dong 5 billion club’, and the introduction of a government investigation into the death of Corporal Chaemo of the Marine Corps. .

However, the People Power Party is countering that the Democratic Party is using its majority position in the National Assembly to storm the National Assembly by pushing for a ‘political special investigation’ and national policies for political strife, so the processing of the budget agreement is also unclear.

Even if a special session of the National Assembly is convened immediately in December, it does not seem easy to reach an agreement until the last minute.

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