Jang Dong-hyeok: 'Gyeonggi Debt Soared 64.5% During Lee Administration'...Choo Mi-ae: 'Semiconductors Grow GDP, but Tax Revenue Remains Stagnant'

People Power Party Leader Jang Dong-hyeok took to social media to criticize former Gyeonggi Governor Lee Jae-myung, pointing out that the province's debt surged by 64.5% in a single year toward the end of Lee's tenure. This served as a rebuttal to Governor Choo Mi-ae's recent criticism of the local financial system. Previously, Governor Choo had argued on her social media that while the regional economy (GRDP) expands thanks to semiconductor companies, tax revenues do not increase. She attributed the fiscal difficulties to the current system and urged for institutional reforms.

Leader Jang stated that during former Governor Lee's term, various "free" (universal) policies, such as the Youth Basic Income and free school uniforms, were introduced. He specifically noted that in 2020, as acquisition tax revenues increased due to rising real estate prices, the welfare budget was expanded by 12.8%. Jang revealed that the fixed welfare expenditures established in 2021, the final year of Lee Jae-myung's governorship, are currently placing a burden on Gyeonggi Province's finances.

Leader Jang claimed that welfare spending in Gyeonggi Province currently accounts for 49% of the total budget. He argued that if Governor Choo's plans proceed as intended, this figure would soar to 60%.