Seoul: National Assembly speaker Woo Won-shik has urged the governing People Power Party (PPP) and the majority Democratic Party (DP) to reach a compromise by December 10, following a failure to pass next year's budget by the December 2 deadline. The delay was anticipated after the DP unilaterally reduced the budget by 4.1 trillion won ($2.9 billion) from the original 677.4 trillion won proposal in the Special Committee on Budget and Accounts last week. According to Yonhap News Agency, the majority party removed the entire 67.8 billion won budget allocated for special activities by the prosecution, police, and the Board of Audit and Inspection (BAI). Additionally, the DP cut the entire 8.2 billion won budget for special activities by the Presidential Security Service and other presidential office expenses. The DP claims these cuts will not paralyze government functions; however, concerns have been raised about the potential impact on public safety and the morale of civil servants. The cuts are seen as linked to the DP's efforts to defend its leader amid increasing judicial risks. Finance Minister Choi Sang-mok expressed concern that the majority party also reduced the 81.5 billion won budget for future growth engines in fields like basic science, quantum computing, chipmaking, and biotechnology. A further cut of 165 billion won for welfare services could worsen the situation for vulnerable populations. The DP also curtailed budgets for tax exemptions on national strategic technologies such as chips and AI, as well as funds intended to boost domestic demand. The finance minister lamented the DP's focus on political battles over economic issues. With bleak economic forecasts, including a growth rate expected to remain in the one percent range, uncertainties are increasing both domestically and internationally. Public anxiety over rising real estate prices and household debts is growing. The DP even abandoned its 2 trillion won budget for local currency issuance and a project for a high-speed train connecting Seou l to major cities in the Honam region, which is a DP stronghold. Despite these cuts, the DP leader emphasized the need for government measures to stimulate the economy. The DP is also preparing to pass motions to impeach three top prosecutors, including the chief of the Seoul Central District Prosecutors' Office, as a response to the prosecution's repeated indictments of the DP leader for numerous allegations. Critics warn that the DP's confrontational approach could backfire politically, urging the party to reconsider its strategy before it is too late.