100-Day Assembly Session Intertwines with 821 Trillion Won Budget and Special Counsel Investigations
The 100-day National Assembly session opened against the backdrop of an 821 trillion won budget and special counsel investigations. The second regular session since the launch of the Lee Jae-myung administration commenced on the 1st and will continue until December 9. On the opening day, five assistant special prosecutors were appointed to the Lee Tae-han National Election Commission Special Counsel Team, marking the full-fledged start of the investigation into the June 3 local election ballot shortage. With legislation, the budget, confirmation hearings, and investigations overlapping within a single session, the entire state affairs schedule has been compressed into 100 days.
Special Counsel Investigation System Completed on Opening Day
According to the NEC special counsel team, President Lee Jae-myung appointed Park Hyuk (Judicial Research and Training Institute 22nd class), Kim Eun-jung (JRTI 38th class), Kim Sang-cheon (1st Bar Exam), Kwon Geun-hwan, and Kim Jin-woo as assistant special prosecutors. Four of the five are former prosecutors. With the investigative command structure established on the opening day, the fact-finding phase of the case has immediately entered the launch stage. However, as former prosecutors account for 80% of the team, evaluations are inevitably divided between securing investigative power and maintaining balance in the composition.
The target of the investigation is clear: the circumstances that caused disruptions to the voting process due to a shortage of ballots in the June 3 local elections. It is expected that the backbone of the investigation will focus on determining at which stage management collapsed, from the estimation of paper quantities to delivery and placement at polling stations. Since the investigative framework was completed in just one day, the speed of early investigative measures, such as summonses and search and seizure warrants, could become a significant variable in the political landscape.
Double Hurdles of 821 Trillion Won Budget and Cabinet Reshuffle Hearings
The Assembly’s central task is the budget bill for the next fiscal year. The so-called “super budget,” amounting to 821 trillion won, is subject to review. The budget bill has a statutory deadline for passage by December 2, 30 days before the start of the fiscal year, setting the deadline a week ahead of the closing day. This leaves little room for negotiation.
The political landscape in September is dominated by confirmation hearings following the August 30 cabinet reshuffle. While the ruling and opposition parties clash over hearing targets and schedules, standing committee bill reviews are likely to be pushed to the back burner. The Democratic Party has upheld the principle of proceeding with hearings alongside legislation and budget matters.
We will ensure that livelihood legislation is not halted due to confirmation hearings and that budget reviews are not delayed due to political strife — Democratic Party
Real estate and judicial reform bills are also on the agenda for processing during the session. The allocation of 821 trillion won in expenditure will redraw the industrial map. While there are high expectations for volume in sectors where government funds are concentrated, such as construction, defense, and welfare, the issuance of national bonds to raise funds could lead to interest rate burdens. Consequently, the financial market is expected to keep a close eye on the Assembly’s voting schedule.
Legislative Landscape of Ruling and Opposition Parties Clashing via Special Counsel Card
The People Power Party launched an offensive simultaneous with the opening. Regarding Kim Yong-beom’s resignation, they called for a “Leverage Special Counsel” investigation, even raising the fact that his son works at a securities firm. This is an offensive citing the financial sector employment of public officials’ family members as a reason for a special counsel probe.
There were also clashes over the naming of bills. When Na Kyung-won previewed the introduction of the “Anti-Yong Hye-in Act,” the Basic Income Party retorted, “Without even reflecting on the rebellion.” As legislation targeting specific individuals and parties increases, the time available for reviewing livelihood bills decreases proportionally.
There were also matters concluded by agreement. The National Assembly Legislation and Judiciary Committee passed the amendment to the October 29 Itaewon Tragedy Special Act at its plenary meeting on the 1st. As the activity period of the Special Investigation Committee was extended by one year, discussions on truth verification and prevention of recurrence will continue beyond the session into next year.
Three Stages to Determine Success or Failure by December 9
The schedule is outlined in three stages: September for confirmation hearings, October and November for budget review, and early December for plenary passage. The longer the hearings drag on, the more the budget negotiations are pushed to late November, increasing the risk of a deadlock. The speed of agreement on the hearing schedule is likely to serve as the first litmus test for the negotiating power of the ruling and opposition parties.
The special counsel investigation proceeds on a separate track outside the National Assembly. As the investigation progresses, its results are reflected again in the voting landscape, effectively running two clocks simultaneously. How the 821 trillion won is distributed and when it is passed is the first measure, while how deeply the special counsel probe digs is the second. The report card for the 100-day Assembly will ultimately be revealed by the time indicated by these two clocks.
