South Korea opposes Lee Jae-myung's ”separation plan” for the Ministry of Strategy and Finance, harshly criticizes Chairman of the National Assembly's Strategy and Finance Committee

In response to the "separation plan" for the Ministry of Strategy and Finance proposed by the camp of Lee Jae-myung, a leading candidate for the next South Korean president and a member of the largest opposition Democratic Party of Korea, the ruling People Power Party has proposed a "separation plan" for the Ministry of Strategy and Finance.
"Are they trying to tear apart the government and the ministry?" he said. Rep. Song Eon-seok (3rd term), a former deputy minister of the Ministry of Strategy and Finance and chairman of the National Assembly's Strategy and Finance Committee, said on the 28th,
In a statement to Dia, he harshly criticized Lee's plan, calling it "the first button in the dictatorial Nazi party." In response to a related question at a press conference the day before, immediately after the party's nomination of the presidential candidate, Lee said,
"Although this has not been officially announced, there have been many criticisms that the Ministry of Planning and Finance has taken control of everything from economic planning to finance, and is acting like a king over each government department," he said.
"I agree with some of the points made by the president, but I will present a detailed plan later. However, it is true that power is overly concentrated and there is room for abuse," he said, adding that if he were to be elected president, he would be the first to appoint a top administration.
He also suggested splitting up and reorganizing the Ministry of Planning and Finance. Rep. Song said of Lee's remarks, "This is an attempt to forcibly dismantle the nation's financial system, based on personal anger and hatred."
Furthermore, the government is planning to put budget planning, which should be carried out through rational coordination and discussion within the government, under the direct control of the president, and to allow the president to operate the national budget at his own discretion.
"Under the presidential system, the president is now trying to take direct control of the national finances," he said.
"If the power to formulate the budget is transferred to the President's Office, the political neutrality of the budget will be lost, and there is a high risk that national finances will be misused for short-term political purposes," he said.
"If the transparency of budget compilation declines and political independence is undermined, it will have a fatal impact on international credibility," he said, warning that the government should take appropriate measures.
They are concerned about possible side effects such as a lowering of credit ratings, capital outflows, and rising interest rates. However, Lee and the Democratic Party of Korea have made concrete efforts to transfer the budget function of the Ministry of Strategy and Finance to the Presidential Office.
At present, there is no clear evidence that the Ministry of Planning and Finance is being separated from the rest of the government. Rep. Song said, "In the current situation where we are facing multiple economic problems, artificially separating the Ministry of Planning and Finance would be a step toward achieving a common goal of the government's tax system, finances, and economy.
It will destroy the organic coordination between policies and lead to administrative inefficiency and policy confusion."