Committee on Budget and Accounts, second day of review of economic ministries' budget plans... Future response fund battle continues

The National Assembly Budget and Settlement Special Committee will hold a plenary meeting on the 10th and proceed with the second day of review by economic ministries on the government's budget plan for next year.

The meeting will be attended by heads of economic ministries and agencies, including Deputy Prime Minister and Minister of Finance and Economy Lee Hyung-il and Minister of Planning and Budget Park Hong-geun.

Continuing from the previous day, the ruling and opposition parties are scheduled to confront each other over the direction of financial management for next year's budget, which is worth 820.9 trillion won, the largest ever.

In particular, a strong conflict between the ruling and opposition parties is expected over the 162 trillion won 'Future Response Fund', which will be created based on additional tax revenues resulting from the semiconductor boom.

In the previous day's review, the opposition People Power Party criticized it as a "generous populist budget," while the ruling Democratic Party of Korea opposed it, saying it was an "essential investment to secure future growth engines."

After completing the review of economic ministries on this day, the Budget and Accounts Committee will continue the review of non-economic ministries for two days from the 11th to the 12th.

Starting on the 16th, the Budget Adjustment Subcommittee, which will substantially review the reduction and increase in the budget, will begin operation in earnest.

The legal deadline for processing the New Year's budget in the plenary session of the National Assembly is December 2.