People Power Party Budget Committee Vows Thorough Review of Excessive Supplementary Budgets and Blue House Relocation Expenses

People Power Party's Special Budget Committee Holds Press Conference
Key Issues for the 2025 Fiscal Year Settlement Introduced

The People Power Party announced that during the 2025 fiscal year settlement review, they will closely scrutinize the poor execution of two rounds of supplementary budgets, the special activity expenses of the Presidential Office, and the use of reserve funds related to the relocation of the Blue House.

On the 21st, National Assembly members Yu Sangbum, Park Sooyoung, Park Sangwoong, Seo Jiyeong, Eom Taeyoung, Lee Inseon, Lee Jongwook, and Cho Bae Sook—members of the Special Committee on Budget and Accounts affiliated with the People Power Party—held a press conference at the National Assembly, where they outlined this review stance.

Assemblyman Yu stated, "We have identified the top 100 problematic projects relating to the 2025 fiscal year settlement," adding, "We will strictly hold individuals accountable for each project and call for bold restructuring for projects that lack results or repeatedly carry over funds."

Members of the Special Committee on Budget and Accounts of the National Assembly affiliated with the People Power Party announced on the 21st at the National Assembly the direction for the review of the fiscal year 2025 budget settlement. Photo by Yonhap News Agency

The People Power Party pointed out that two rounds of supplementary budgeting last year have increased the total government expenditure and national debt. They plan to analyze the within-year execution rates of supplementary budget projects and thoroughly assess the legitimacy of excessive supplementary budgeting and the issuance of deficit-financing government bonds.

Major problematic projects cited include the Ministry of SMEs and Startups' investment in the mother fund for SMEs, which was allocated 300 billion won, and the Ministry of Science and ICT’s AI Innovation Fund, allocated 50 billion won in the supplementary budgets, with neither resulting in actual corporate investment.

The special activity expenses of the Presidential Office and the three major special prosecutors have also been placed under review. The People Power Party criticized, "While in opposition, the current ruling party demanded the disclosure of details concerning 4.1 billion won in Presidential Office special activity expenses and the special funds for prosecutors Cho Eunseok, Min Jungki, and Lee Myeongheon, but as the governing party, it has now refused to reveal them."

Regarding the Blue House relocation, the party plans to examine detailed contracts and execution records related to 16.2 billion won for Presidential Office facility improvement projects, 9.8 billion won for security infrastructure by the Presidential Security Service, and 4.5 billion won in budget for the return of the Blue House security unit under the National Police Agency. The People Power Party claims the government is refusing to submit relevant documentation.

Another issue pointed out was the personnel management guidelines from the Ministry of Personnel Management restricting high-risk ETF investments in the civil servant pension fund. Assemblyman Yu argued, "The government encourages the general public to invest in single high-leverage ETFs, yet bars its own funds from using high-risk ETFs, exposing a double standard."

The People Power Party also plans an in-depth investigation into the 1.3 trillion won in unpaid national defense expenses that occurred at the end of 2025. Assemblyman Lee claimed, "The situation of unpaid defense spending by the Ministry of National Defense is tantamount to bankruptcy for a company," adding, "This is something that should never occur in the management of the national economy." Assemblyman Yu added, "We will ensure that the settlement review does not remain a mere formality but becomes a system of responsible settlement that serves as the standard for next year's budget proposal."

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