Seoul: Rival parties wrangled Tuesday over next year's budget bill as the ruling People Power Party (PPP) insisted on keeping the government's proposal, while the main opposition Democratic Party (DP) demanded a revision to increase the issuance of local currency vouchers. The DP railroaded a downsized budget bill through the parliamentary budget committee last week and aimed to pass it through a plenary parliamentary session Monday before National Assembly Speaker Woo Won-shik put the plan on hold and urged the rival parties to reach a compromise by next Tuesday.According to Yonhap News Agency, a downsized budget bill was passed through a plenary session of the National Assembly's Special Committee on Budget and Accounts. The current bill proposed by the majority DP puts next year's budget at 677.4 trillion won (US$485.3 billion), down 4.1 trillion won from the government's initial proposal, following cuts in the government's reserve fund and the special activity expenses of the presidential office's secre tariat and national security office, as well as those of the prosecution, the state audit agency, and the police.PPP floor leader Rep. Choo Kyung-ho expressed strong opposition to the DP's approach, stating, "Without an apology from the Democratic Party and the withdrawal of the budget bill that was passed unilaterally, we will not agree to any kind of talks." He further emphasized that if the DP wanted to discuss increasing the budget for local currency vouchers, negotiations should have occurred before the bill's passage.The DP has been advocating for a 2 trillion won allocation for local currency vouchers, aimed at supporting small merchants and the self-employed, aligning with a key policy of its leader Lee Jae-myung. DP floor leader Rep. Park Chan-dae urged the government and the PPP to focus on proposals that would enhance people's livelihoods and the economy during a party meeting.
- September 13, 2026
