Finance Minister Choi Sang-mok (center) speaks during a press briefing at the government complex building in Seoul on Monday. (Yonhap)
Finance Minister Choi Sang-mok on Monday expressed strong regret over the main opposition party railroading a downsized budget bill for next year, accusing the party of politicizing the proposal despite ongoing bipartisan negotiations.
The revised budget, passed by a parliamentary special committee controlled by the Democratic Party last week, offers 677.4 trillion won ($485.3 billion) for the national budget for 2025, 4.1 trillion won less than the government's initial proposal.
Rival parties are expected to clash over the revised proposal during a plenary parliamentary session scheduled for later in the day.
"The world is waging a war without gunfire, yet the opposition is holding the budget hostage for political strife, depriving our businesses of the essential resources they need," Choi said during a press conference, condemning the DP's actions as "irresponsible."
The budget cuts specifically target the entirety of funds allocated for "special activities" of the presidential office's secretariat and national security office, as well as those for the prosecution, state audit agency and the police.
The DP argues that agencies like the prosecution have failed to provide proper receipts for their use of the budget in the past. The government and the ruling People Power Party argue such expenses must remain confidential to ensure operational effectiveness.
"Over the past three years, drug-related crimes have increased 1.5 times, and deepfake crimes have surged fivefold. Cutting 100 percent of the confidential investigation budget raises serious concerns about our ability to respond to such crimes," Choi told the joint press conference.
The revised proposal also halves the government's 4.8 trillion-won reserve fund to 2.4 trillion won.
"This will inevitably disrupt the government's support plans for people's livelihoods and regional economies that are still struggling," Choi added.
The statutory deadline for approving the national budget is Monday, but the National Assembly has met the deadline only twice in the past two decades.
"The opposition party must withdraw its unprecedented unilateral budget reduction proposal and engage in sincere negotiations," Choi urged. (Yonhap)
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