Seoul: 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 (DP) last week, offers 677.4 trillion won (US$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.
According to Yonhap News Agency, Choi condemned the DP’s actions as “irresponsible,” stating, “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.” The budget cuts specifically target the entirety of funds allocated for “special activities” of the presidential offic
e’s secretariat and national security office, as well as those for the prosecution, state audit agency, and the police.
The Democratic Party argues that agencies like the prosecution have failed to provide proper receipts for their use of the budget in the past. On the other hand, the government and the ruling People Power Party assert that such expenses must remain confidential to ensure operational effectiveness. Choi highlighted the implications of these cuts by noting, “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.”
Furthermore, the revised proposal also halves the government’s 4.8 trillion-won reserve fund to 2.4 trillion won. Choi warned that this reduction “will inevitably disrupt the government’s support plans for people’s livelihoods and regional economies that are still struggling,” emphasizing potent
ial risks from both domestic and international challenges, including possible trade policy shifts under the incoming U.S. administration.
He also expressed concerns about the reduced research and development budgets for key industries, such as semiconductors and biotechnology, arguing that the cuts could undermine the country’s competitiveness in these critical sectors. With the statutory deadline for approving the national budget looming, Choi urged, “The opposition party must withdraw its unprecedented unilateral budget reduction proposal and engage in sincere negotiations.”