On October 8, lawmakers from both the ruling and opposition parties engaged in a heated debate during a National Assembly audit regarding the 'Future Response Fund' proposed by the administration of President Lee Jae-myung. The People Power Party criticized the fund as "President Lee's slush fund," while the Democratic Party defended it as essential for securing future growth drivers.
The Finance Committee held the audit at the National Assembly, focusing on various issues, including the Future Response Fund.
Before the audit officially began, a brief disruption occurred when the People Power Party displayed protest signs. The signs read, "Withdraw the Future Response Fund that Destroys the Future" and "Future Response Fund Exploiting School Budgets." Finance Committee Chairman Cho Seung-rae demanded the removal of the signs, citing a lack of prior agreement between the parties, but the People Power Party members refused to comply and exited the room.
After the People Power Party members returned, the audit proceeded with continued criticism from the opposition regarding the Future Response Fund.
Representative Lim I-ja expressed that the Future Response Fund, as proposed by the Lee administration, is a "disguised transfer account," claiming it is a "negative account that misuses the names of future generations" and an "unfair account that robs local governments of their resources." He emphasized, "Ultimately, isn’t this President Lee's slush fund? The Future Response Fund that destroys the future must be withdrawn."
In response, Minister of Planning and Finance Park Hong-keun stated, "This fund is designed in accordance with the National Finance Act and is a hybrid account with both financial and business aspects."
Representative Park Soo-young raised concerns about the financial soundness of the Future Response Fund, arguing that it provides preferential treatment to specific regions. He noted, "We are allocating 162 trillion won for the Future Response Fund while incurring 106 trillion won in national debt. It is a situation where we have no justification for incurring 106 trillion won in debt for just 104 trillion won." He criticized that the main projects of the Future Response Fund are limited to Jeollanam-do and Gwangju, calling it "the slush fund of the Jeollanam-do cartel."
In turn, the Democratic Party firmly countered the People Power Party's claims, reiterating the necessity of the Future Response Fund. Representative Moon Jin-seok targeted Lim's assertion that the fund is President Lee's slush fund, stating, "This is merely a politically charged remark. Ultimately, the Future Response Fund is intended to secure future growth drivers."
Representative Kim Nam-jun added, "In the context of the semiconductor boom, the Future Response Fund represents a historic opportunity. If we do not respond, we will be judged harshly by future generations on how we handled this situation."
* This article has been translated by AI.
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