Minister visits Assembly Speaker Jo Jeong-sik to discuss long-term strategy and budget planning

Minister of Planning and Budget Park Hong-keun said Monday that the National Assembly's statutory cost-estimation system for bills with fiscal implications must be applied more rigorously, even as lawmakers' legislative rights and independence as a constitutional institution deserve full respect.

Park made the remarks during a courtesy call on Jo Jeong-sik, the newly elected speaker of the 22nd National Assembly's second half, at the speaker's office in the main Assembly building. He said bill introductions in the 22nd National Assembly have risen more than 20 percent compared with the same period in the 21st Assembly, calling the surge in legislative activity "very meaningful."

Minister of Planning and Budget Park Hong-keun speaks at an expert forum on fiscal management held at Conference House Dalgaebi in Jung-gu, Seoul, on Monday. [Yonhap]
Minister of Planning and Budget Park Hong-keun speaks at an expert forum on fiscal management held at Conference House Dalgaebi in Jung-gu, Seoul, on Monday. [Yonhap]

"The government is strengthening its own pre-review process, and I ask for the Assembly's special attention and cooperation so that the government's views can be fully heard on its end as well," Park said.

The meeting also covered major fiscal issues, including the formulation of a long-term national development strategy and the drafting of the 2027 budget.

Park said the government plans to establish and announce a mid-to-long-term national development strategy this year, laying out a vision and policy agenda for 2045 — the centennial of Korea's liberation. He said the task requires a whole-of-nation effort beyond the administration alone, and that the government would actively cooperate with the National Assembly Futures Institute and relevant standing committees from the outset.

On the budget, Park said the 2027 spending plan would be the first budget over which the Lee Jae Myung administration exercises full control from start to finish. He described it as "the starting point of a people's sovereignty budget" and pledged to work closely with the Assembly to gather broad legislative input and discuss institutional improvements covering the entire budget cycle — from drafting and deliberation to final approval and settlement.

Park also congratulated Speaker Jo on his inauguration. He said Jo had won six consecutive terms from the 17th through the 22nd National Assembly, making him the chamber's longest-serving incumbent, and had built deep expertise across policy areas — including fiscal affairs — through roles as chair of the Land and Infrastructure Committee, floor whip on the budget and settlement committee, chair of the party's policy committee and secretary-general. "I expect that this wealth of experience and leadership will be a great asset as the National Assembly works to coordinate diverse social debates and build public consensus," Park added.


y2k@heraldcorp.com