PPP Fiscal Economy Committee Members: "Ruling Party Seeks to Monopolize Chairmanship, Including Budget Subcommittee"

Press Conference of People Power Party Members on the Fiscal Economy Planning Committee

“Settlement Review Pushed Ahead Before Budget Subcommittee Formation”

“Criticism Over Forcing Full Committee Meeting”

On August 20, the members of the People Power Party on the National Assembly's Fiscal Economy Planning Committee criticized the Democratic Party of Korea, stating, "The Democratic Party has turned the Fiscal Economy Planning Committee into yet another battleground," in response to the Democratic Party's move to take the chairmanship of both the committee and the Subcommittee on Budget and Fund Deliberation.

Joon Young Bae, Ming Guk Kang, Sang Hoon Kim, Soo Young Park, and Jong Wook Lee of the People Power Party held a press conference at the National Assembly on the same day and stated, "It is difficult to accept, in terms of the National Assembly's system of checks and balances, that the ruling party intends to take control of even the Budget and Fund Subcommittee, which is supposed to oversee government tax, fiscal, and budget/fund management."

They further pointed out, "In the past three instances where the People Power Party took the chairmanship of the Fiscal Economy Planning Committee, the chairmanship of the Budget and Fund Subcommittee was always allocated to the Democratic Party without exception. While the Democratic Party argues this position belongs to the majority party, in the 20th National Assembly, the People’s Party and Bareun Party, both minority parties, respectively headed the Budget and Fund Subcommittee."

On the 20th, at the Fiscal Economy Planning Committee held at the National Assembly, Minority Party Whip Joon Young Bae and Congressman Ming Guk Kang are protesting to Chairman Seungrae Cho regarding the agreement on the formation of a subcommittee and the legislative schedule. 2026.8.20 Photo by Hyunmin Kim

The People Power Party explained that they proposed both a plan based on precedent and a compromise solution of alternating the subcommittee chairmanship annually, but the Democratic Party did not accept either proposal.

The People Power Party members also criticized the Democratic Party for proceeding with the review of the settlement bill and forming some subcommittees before the Budget and Fund Subcommittee was fully established. The lawmakers stated, "It makes no sense to propose starting the settlement review before properly forming the Budget and Fund Subcommittee that will conduct the review," emphasizing, "The People Power Party has thoroughly prepared for this year’s settlement review."

They further raised concerns about the government's direction in the 2026 tax reform plan to reduce certain tax expenditures and shift them to fiscal support. The People Power Party members claimed, "The government is essentially trying to convert legally guaranteed benefits to the people into discretionary funds it can distribute," and, considering the establishment of large-scale funds and new schemes being planned, argued that the opposition should chair the Budget and Fund Subcommittee to properly keep the government in check.

They also protested against convening the full committee meeting at 10 a.m. when a plenary session, each party's general assembly, and the Ulchi exercise were already scheduled for later in the afternoon, claiming, "This is an attempt to neutralize debates and questioning on the settlement review and tax reform, and to silence the opposition's voice."

They concluded by urging, "Chairman Seungrae Cho should halt his unilateral management of the committee and renegotiate the formation of subcommittees and the legislative schedule."

This content was produced with the assistance of AI translation services.