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Finance Minister Urges President Yoon to Veto Bill on Budget Proposal Changes.

Seoul: Finance Minister Choi Sang-mok announced Thursday his intention to recommend President Yoon Suk Yeol veto a newly passed revision bill that would abolish the automatic forwarding of the government's budget proposal to the plenary session in the absence of a bipartisan agreement by the stipulated deadline. According to Yonhap News Agency, the opposition-controlled National Assembly earlier passed the revision to the National Assembly Act, effectively removing the mechanism that ensures the government's budget proposal and related bills are automatically forwarded if they fail to clear parliamentary standing committees by November 30. This change raises concerns about meeting the constitutional deadline of December 2, as the automatic forwarding provision was crucial in preventing legislative delays. Finance Minister Choi emphasized during a press briefing that abolishing this system could lead to missed deadlines, as standing committees would no longer be bound by time constraints. Historically, the N ational Assembly has managed to meet the December 2 budget approval deadline only twice in two decades, and with current standoffs over next year's spending plan, the likelihood of another delay seems imminent. Expressing his disapproval of the legislative amendment's unilateral passage, Choi stated his intent to request the president's intervention through a veto. He highlighted that the automatic forwarding system, implemented in 2014, was designed to circumvent legislative gridlock and ensure timely budget approvals. President Yoon, since assuming office in May 2022, has already exercised his veto power 12 times, rejecting a total of 25 bills amidst ongoing conflicts with the opposition-controlled National Assembly.

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