The ruling party is taking advantage of "predictions of an economic crisis" more and more. After requesting the chairman of the National Assembly to bring up controversial bills ex officio mentioning a "national emergency-level" economic crisis, the government is now using the rise in the nation's credit rating as a means to pressure the lawmakers to pass the bills in question. The government argues that if the National Assembly fails to pass the bills, the nation's credit rating could fall adding weight to the economic crisis and is highlighting the opposition party in holding the government back. Thus the government argues of an imminent economic crisis, yet carries out a cabinet reshuffle, placing an economic team "for the general election" and accelerating towards the elections while ignoring the issues piled by the heads of public organizations appointed by the government.
■ Economic Crisis: The Master Key
The ruling party continued to use predictions of an economic crisis as the "master key" in pressuring the opposition party on December 22. Concerning the December 21 cabinet reshuffle, which replaced five ministers, the ruling party demanded a confirmation hearing as soon as possible claiming that the recent domestic and international economic conditions were unstable.
This day, at a meeting of the party's lawmakers, Kim Jung-hoon, head of the Saenuri Party's policy committee said, "Due to negative factors in the domestic and global economy such as the economic recession and the U.S. base rate hike, a sense of crisis is intensifying throughout the nation. If state administration is left vacant due to a delay in the confirmation hearing, it would be suicide." At the same time, he sought the cooperation of the opposition party saying, "The confirmation hearing procedures will be thorough according to law and principle, but should be concluded promptly."
■ Attack: Blaming the Opposition Party for Any Possible Economic Crisis
Recently, the ruling party has been pressuring the opposition party to pass controversial bills within this year based on their argument of a possible economic crisis and is highlighting the opposition party's responsibility.
This day, in a cabinet meeting chaired by the president, President Park Geun-hye said, "It is tragic" on how the National Assembly had not passed the problematic bills, and added, "I believe they should open their hearts and keep a broad mind when it comes to the important bills directly related to the people's lives such as the labor reforms, economic stimulus, and Terrorism Prevention Act, before the year passes." She also used expressions like, "This is almost deplorable," "I'm truly sad," and "I'm just frustrated."
In particular, the president mentioned the higher credit rating by Moody's, an international credit rating agency, and said, "It is also a warning that if we retreat in our structural reforms, our credit rating can once again drop." In other words, she blamed the opposition party in advance, claiming, if the controversial bills are not passed due to the opposition party's lack of cooperation, the nation's credit rating could fall, and our economy could find itself in a more difficult situation.
Earlier, on December 21, Saenuri Party floor leader Won Yoo-chul also said, "A retreat in the structural reforms that the government is currently promoting would lead to a fall in our credit rating."
Some experts argue that such attempts by the government and the ruling party are an attempt "to manipulate the people's economic anxiety" and that they are "blaming the opposition party for the economic crisis (New Politics Alliance for Democracy floor leader Lee Jong-kul)."
■ They Say the Economy Is Facing Challenges Yet Show Contradictory Behavior
However, signs have emerged here and there showing that the "possible economic crisis" that the ruling party claims is not what it seems.
The previous day, Cheong Wa Dae replaced the ministers in charge of the nation's economy such as Deputy Prime Minister for Economic Affairs and Minister of Strategy and Finance Choi Kyung-hwan and Minister of Trade, Industry and Energy Yoon Sang-jick. Experts assess the latest cabinet reshuffle as one that "opened the door for the cabinet members to run in the general election." The government and ruling party had constantly argued of a "national emergency-level" economic crisis, yet it seems contradictory how the government suddenly replaced the economic ministers who should manage the economic crisis all at once.
Recently, pro-Park figures Park Wan-soo, president of the Incheon International Airport Corporation and Kim Seok-ki, president of the Korea Airports Corporation resigned to run in the general election. The leaders overseeing fourteen airports in Korea including Incheon, Gimpo, and Jeju left their seats vacant to enter politics―indeed an unprecedented event. People are criticizing that politicians appointed by the government used the position of president of a public corporation as a springboard to enter politics as the president stressed reviving the economy.
■ Economic Crisis: The Master Key
The ruling party continued to use predictions of an economic crisis as the "master key" in pressuring the opposition party on December 22. Concerning the December 21 cabinet reshuffle, which replaced five ministers, the ruling party demanded a confirmation hearing as soon as possible claiming that the recent domestic and international economic conditions were unstable.
This day, at a meeting of the party's lawmakers, Kim Jung-hoon, head of the Saenuri Party's policy committee said, "Due to negative factors in the domestic and global economy such as the economic recession and the U.S. base rate hike, a sense of crisis is intensifying throughout the nation. If state administration is left vacant due to a delay in the confirmation hearing, it would be suicide." At the same time, he sought the cooperation of the opposition party saying, "The confirmation hearing procedures will be thorough according to law and principle, but should be concluded promptly."
■ Attack: Blaming the Opposition Party for Any Possible Economic Crisis
Recently, the ruling party has been pressuring the opposition party to pass controversial bills within this year based on their argument of a possible economic crisis and is highlighting the opposition party's responsibility.
This day, in a cabinet meeting chaired by the president, President Park Geun-hye said, "It is tragic" on how the National Assembly had not passed the problematic bills, and added, "I believe they should open their hearts and keep a broad mind when it comes to the important bills directly related to the people's lives such as the labor reforms, economic stimulus, and Terrorism Prevention Act, before the year passes." She also used expressions like, "This is almost deplorable," "I'm truly sad," and "I'm just frustrated."
In particular, the president mentioned the higher credit rating by Moody's, an international credit rating agency, and said, "It is also a warning that if we retreat in our structural reforms, our credit rating can once again drop." In other words, she blamed the opposition party in advance, claiming, if the controversial bills are not passed due to the opposition party's lack of cooperation, the nation's credit rating could fall, and our economy could find itself in a more difficult situation.
Earlier, on December 21, Saenuri Party floor leader Won Yoo-chul also said, "A retreat in the structural reforms that the government is currently promoting would lead to a fall in our credit rating."
Some experts argue that such attempts by the government and the ruling party are an attempt "to manipulate the people's economic anxiety" and that they are "blaming the opposition party for the economic crisis (New Politics Alliance for Democracy floor leader Lee Jong-kul)."
■ They Say the Economy Is Facing Challenges Yet Show Contradictory Behavior
However, signs have emerged here and there showing that the "possible economic crisis" that the ruling party claims is not what it seems.
The previous day, Cheong Wa Dae replaced the ministers in charge of the nation's economy such as Deputy Prime Minister for Economic Affairs and Minister of Strategy and Finance Choi Kyung-hwan and Minister of Trade, Industry and Energy Yoon Sang-jick. Experts assess the latest cabinet reshuffle as one that "opened the door for the cabinet members to run in the general election." The government and ruling party had constantly argued of a "national emergency-level" economic crisis, yet it seems contradictory how the government suddenly replaced the economic ministers who should manage the economic crisis all at once.
Recently, pro-Park figures Park Wan-soo, president of the Incheon International Airport Corporation and Kim Seok-ki, president of the Korea Airports Corporation resigned to run in the general election. The leaders overseeing fourteen airports in Korea including Incheon, Gimpo, and Jeju left their seats vacant to enter politics―indeed an unprecedented event. People are criticizing that politicians appointed by the government used the position of president of a public corporation as a springboard to enter politics as the president stressed reviving the economy.
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