The Democratic Party of Korea emphasized that it would swiftly process the second supplementary budget focused on the household recovery coupon. It also argued that the Special Committee on Budget & Accounts, whose term has ended, must be quickly organized so that the supplementary budget proposal can pass through the National Assembly.

Acting leader and floor leader Kim Byeong-ki of the Democratic Party of Korea speaks at the floor countermeasure meeting held at the National Assembly in Yeouido, Seoul, on the 17th./Courtesy of Yonhap News Agency

Kim Byeong-ki, acting chairperson of the Democratic Party of Korea and floor leader, said during a floor strategy meeting held at the National Assembly on the morning of the 17th, “We will quickly prepare and execute the supplementary budget in the form of a household recovery support fund, which has already proven effective and can be felt by the public.”

Kim, who was elected on the 13th, held the first floor strategy meeting that day. The new floor leadership of the Democratic Party identified 'ending the insurrection', 'recovering the household economy', and 'national unity' as immediate tasks. It also stressed that it would lead the alleviation of household burdens and stabilize prices through consultations with the Lee Jae-myung administration.

Kim said, “We will push ahead with household reform legislation without any setbacks, and we will process the amendment to the Commercial Act swiftly as it is a starting point for establishing a fair market order and achieving a KOSPI 5000 era,” adding, “We will establish constitutional order, democracy, and social justice with the three independent counsel investigations into the insurrection, Kim Keon-hee, and Marine Corps members.”

Jin Sung-joon, chairperson of the Democratic Party's Policy Committee, argued that since the supplementary budget proposed by the Lee Jae-myung administration will be presented at the Cabinet meeting on the 19th, the National Assembly also needs to quickly form a committee. He explained that the household recovery support fund and local currencies included in the supplementary budget would be discussed with the government based on the principle of universal payment.

Chairperson Jin noted, “The specific matters regarding the scale and method of key projects to be included in the supplementary budget, such as the household recovery support fund and local currencies, will be decided through final consultations with the party and the government,” and stated, “In February, the Democratic Party proposed additional support for vulnerable groups such as basic livelihood recipients and the near poor under the principle of universal payment.”

He added, “For the swift processing of the supplementary budget proposal, the National Assembly also needs to be prepared. Above all, the committee that ended its term must be established,” and expressed, “I believe that the newly elected floor leader of the People Power Party, Song Eon-seok, will actively cooperate in forming the committee, including the selection of the chairperson for the Budget & Accounts Committee.”