The Democratic Party of Korea announced on the 28th its campaign pledge book for the 21st presidential election, which includes a government department reorganization plan topped with the so-called 'splitting the Ministry of Economy and Finance.' The core of the plan is to separate the budget function from the Ministry of Economy and Finance, which candidate Lee Jae-myung has insisted is 'acting like a king in the executive branch,' abolish the police agency created by the Yoon Suk-yeol government, and establish a 'Ministry of Climate and Energy' that is responsible for energy and environmental policies. Additionally, it stated that the current three military branches (Army, Navy, Air Force) will be reorganized into a four-branch structure by making the Marine Corps independent.

Democratic Party of Korea presidential candidate Lee Jae-myung appeals for support at the concentrated campaign for Gwangjin-gu and Jungnang-gu held in front of the main gate of Children’s Grand Park in Gwangjin-gu, Seoul on the 28th. /Courtesy of Yonhap News

On the same day, the Democratic Party published its 21st presidential election policy pledge book. The 375-page policy pledge is divided into three main sections of 'Recovery, Growth, Happiness,' and the government department reorganization plan is included in the 'Recovery' chapter under the field of 'overcoming internal strife and recovering democracy.' However, the establishment of the Ministry of Climate and Energy has been included in the 'Growth' section.

◇Separating the budget function of the Ministry of Economy and Finance and transferring it to the Prime Minister's Office, etc.

According to the campaign pledge book, the key point of the reorganization of the Ministry of Economy and Finance is 'separating the budget function.' This involves transferring the Ministry's budget authority to either the Presidential Office or the Prime Minister's Office. The justification is to allow 'the Ministry of Economy and Finance to focus on establishing and operating economic policies.' However, the Democratic Party argues that the Ministry of Economy and Finance, which has the authority to formulate budgets, reigns over other ministries, and has anticipated a high-intensity organizational restructuring upon taking office.

The Democratic Party did not specify these details in the pledge book. However, on the same day, candidate Lee stated in a meeting with reporters, 'It seems we need to organize the Ministry of Economy and Finance. The budget function needs to be separated.' The pledge book also contains provisions such as ▲specifying the scope and requirements for government consent when reviewing budget increase proposals ▲clarifying the budget reserve preparation criteria ▲strengthening National Assembly reporting obligations to discourage the use of reserves.

Financial operations scattered between the Ministry of Economy and Finance and the Financial Services Commission will also be addressed. This was not included in the pledge book, but candidate Lee publicly declared it. There has been mention of creating a 'Ministry of Finance' that combines the financial functions partially held by the Ministry of Economy and Finance with those of the Financial Services Commission and the Financial Supervisory Service. Candidate Lee noted, 'Currently, the Ministry of Finance manages domestic financial policy, while the Ministry of Economy and Finance oversees overseas financial policy,' and added, 'Since the Financial Services Commission handles both supervisory and policy duties in a mixed manner, there is a need to separate and organize these responsibilities.'

Graphic=Jeong Seo-hee

◇Abolition of the police agency created by Yoon and reorganization into a four-branch structure

As a means to ensure political neutrality of the police, the police agency under the Ministry of Interior and Safety will be abolished. The police agency is a major policy promoted by the Yoon Suk-yeol government. Instead, plans were specified to strengthen democratic control over the police through the National Police Commission.

Defense reform was announced with the goal of 'creating a military dedicated solely to its mission,' which includes ▲diversifying recruitment methods ▲reorganizing the three military branches (Army, Navy, Air Force) and making the Marine Corps independent into a four-branch structure ▲improving the unfair promotion system and assignment organization. Additionally, it was decided to ▲reduce personnel for presidential security support ▲strengthen democratic control over the head of the Presidential Security Service ▲enhance the political neutrality and independence of the Board of Audit and Inspection.

◇Establishment of the Ministry of Climate and Energy and expansion and reorganization of the Ministry of Gender Equality and Family

The Democratic Party is also preparing to establish a control tower for climate and energy policies linked to responses to the climate crisis. The department will be named 'Ministry of Climate and Energy.' It will oversee the energy supply system supporting candidate Lee's key pledge of 'becoming the top three nations in AI.' Additionally, it will be responsible for carbon neutrality and energy transition tasks, actively responding to corporations' demands for RE100 (a declaration to replace 100% of the electricity required by companies with eco-friendly renewable energy by 2050).

Candidate Lee noted, 'Currently, Korea needs to transition to a new energy system, but there is no dedicated department for this. (The relevant functions) are incorporated into part of the Ministry of Trade, Industry and Energy,' saying, 'As we need to invest heavily in energy transition in the future, an independent department is necessary.' He also said, 'Since legal amendments are needed, it may be difficult to push forward quickly, but we will do it as swiftly as possible.'

The Ministry of Gender Equality and Family will expand its functions and be reorganized into the 'Ministry of Gender Equality and Family.' A plan was also disclosed to hire 30% or more women among all cabinet members when forming the new cabinet. However, specific figures were not included in the pledge book. Candidate Lee stated, 'I thought about whether we can secure more than 30% women among cabinet members and senior advisors, and I am not confident, but I will do my best,' adding, 'It is difficult to publicly specify a figure of 30%, but I will strive to exceed 30% as our goal.'