Jung Jeom-sik, the floor leader of the People Power Party, urged party members on October 30 to approach the budget review with a sense of gratitude for taxpayers' money and a sense of responsibility for the future.
During a National Assembly Audit Countermeasure Meeting, Jung stated, "If the government and ruling party continue with populism that disregards taxpayers' money, I will hold them accountable on behalf of the people."
He referenced the national fiscal management plan, which estimates that national debt will increase by over 321 trillion won by 2030, criticizing the Lee Jae-myung administration for pushing to establish a 162 trillion won Future Response Fund under the pretext of increased tax revenue. He labeled this initiative as a "populism free-use voucher."
Jung also warned that if the current trend continues, the national debt-to-GDP ratio could rise to 126.3% by 2055, stating, "Irresponsible fiscal policies will have consequences. What would you say if a parent took out loans in their children's names and spent recklessly?"
Lim I-ja, the policy chairperson, commented on the Democratic Party's decision on October 28 to increase the allowable floor area ratio for private redevelopment and reconstruction projects to a maximum of 1.2 times the legal limit. She expressed relief that the easing of regulations has been extended to the private sector but criticized the conditions that hinder actual housing supply approvals.
She added, "If they pretend to relax regulations on the surface while imposing various restrictions behind the scenes, it will not yield results in the market. We need to discuss measures such as the recovery of excess profits from reconstruction, loan regulations, and stabilization policies for monthly rents together," proposing the establishment of a '3+3 Real Estate Consultative Body' to the Democratic Party.
This consultative body would involve the policy chairs, floor policy deputy representatives, and secretaries of the National Assembly's Land, Infrastructure and Transport Committee from both parties to develop effective housing supply policies and legal and institutional measures for stabilizing monthly rents.
Meanwhile, Lim criticized the breakdown of negotiations regarding the construction contract for the Dukovany nuclear power project in the Czech Republic between Korea Hydro & Nuclear Power and the Daewoo Engineering & Construction-Doosan Enerbility consortium, calling it an 'embarrassing situation.' She urged Korea Hydro & Nuclear Power to transparently disclose the circumstances and reasons for the breakdown and to take immediate corrective action.
During a National Assembly Audit Countermeasure Meeting, Jung stated, "If the government and ruling party continue with populism that disregards taxpayers' money, I will hold them accountable on behalf of the people."
He referenced the national fiscal management plan, which estimates that national debt will increase by over 321 trillion won by 2030, criticizing the Lee Jae-myung administration for pushing to establish a 162 trillion won Future Response Fund under the pretext of increased tax revenue. He labeled this initiative as a "populism free-use voucher."
Jung also warned that if the current trend continues, the national debt-to-GDP ratio could rise to 126.3% by 2055, stating, "Irresponsible fiscal policies will have consequences. What would you say if a parent took out loans in their children's names and spent recklessly?"
Lim I-ja, the policy chairperson, commented on the Democratic Party's decision on October 28 to increase the allowable floor area ratio for private redevelopment and reconstruction projects to a maximum of 1.2 times the legal limit. She expressed relief that the easing of regulations has been extended to the private sector but criticized the conditions that hinder actual housing supply approvals.
She added, "If they pretend to relax regulations on the surface while imposing various restrictions behind the scenes, it will not yield results in the market. We need to discuss measures such as the recovery of excess profits from reconstruction, loan regulations, and stabilization policies for monthly rents together," proposing the establishment of a '3+3 Real Estate Consultative Body' to the Democratic Party.
This consultative body would involve the policy chairs, floor policy deputy representatives, and secretaries of the National Assembly's Land, Infrastructure and Transport Committee from both parties to develop effective housing supply policies and legal and institutional measures for stabilizing monthly rents.
Meanwhile, Lim criticized the breakdown of negotiations regarding the construction contract for the Dukovany nuclear power project in the Czech Republic between Korea Hydro & Nuclear Power and the Daewoo Engineering & Construction-Doosan Enerbility consortium, calling it an 'embarrassing situation.' She urged Korea Hydro & Nuclear Power to transparently disclose the circumstances and reasons for the breakdown and to take immediate corrective action.
* This article has been translated by AI.
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