Minjoo cuts government reserve by half...opposition from the ruling party

2024.11.13. PM 5:03
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In addition, the Democratic Party of Korea alone voted to cut next year's government reserve by half at the budget review subcommittee of the National Assembly's Strategy and Finance Committee.

The reserve is money that is prearranged to cover unpredictable out-of-budget spending, and the government insisted that 4.8 trillion won was needed, a 14% increase from this year, but the opposition party passed a proposal that reduced the amount by 2.4 trillion won.

The opposition party argued that next year's plan was excessive considering that 3.3 trillion won out of the 4.6 trillion won reserve was not spent last year, but the people's power left without participating in the vote in protest of the cuts.



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