Rep. Yoo Sung-kull of the ruling Saenuri Party is in his third year in office after being elected lawmaker for the constituency of Dong-gu, Daegu, in April 2012. Rep. Yoo is one of the nation’s most active parliamentarians, as he commuted between Seoul and Daegu on 108 occasions in 2014 to conduct parliamentary activities designed to ensure the development of his constituency.
Rep. Yoo has been spearheading efforts for the success of the Park Geun-hye government, as he was deeply involved in the development of public pledges for presidential candidate Park’s election campaign; and the June 4, 2014 local elections.
He has also devoted himself to carrying out his parliamentary activities related to national issues. Rep. Yoo has been selected as one of the lawmakers recognized for superb acts during a parliamentary interpellation of the government, and he was presented with the National Assembly Constitution Grand Prix.
Rep. Yoo hosted the 10th Forum on Shoring Up the National Competitive Edge in November 2014, in which Deputy Prime Minister and Minister Choi Kyung-hwan of the Ministry of Strategy and Finance presented the government’s economic and financial policies. This forum was designed not only for members of the ruling party to get a better understanding of the current economic situation and major issues of the Park Geun-hye government’s 2015 budget, but also to provide support for the government’s efforts to turn around the sagging national economy.
Rep. Yoo called for the timely approval of a supplementary budget in April 2013 to have an impact on boosting the economy, as the government intended. The delayed passage of the bill would exacerbate the livelihood of low-income people, he said.
He served on President Park’s presidential transition team in January 2013. Yoo, a senior member of the first economic committee of the presidential transition team, played a leading role in laying a solid foundation for the government, as he was involved in the establishment of the top five national agendas, top 21 implementation strategies and top 140 national tasks.
Rep. Yoo worked as a member of the Committee for Pursuing People’s Happiness, established to unveil presidential candidate Park’s election pledge in December 2012, dubbed the “Plan for the Happiness of 50 million people,” calling for the promotion of economic democratization, welfare and job creation.
Rep Yoo’s parliamentary activities as a member of the National Assembly Strategy and Finance Committee have been extraordinary.
Citing the fact that the national fiscal management plan is based on five years, the same as the term of each government, and do not reflect fiscal sustainability, Rep. Yoo demanded during a parliamentary audit of the Ministry of Strategy and Finance (MOSF) in October 2014 that the national fiscal management plan be established based on a long-term perspective of 20 years, 30 years and 50 years.
He concurred on stimulus steps to boost the national economy, but also cited the need for restructuring on Oct. 16, 2014. Rep. Yoo demanded the establishment of binding fiscal guidelines designed to ensure fiscal sustainability to stem rising national debts and the exacerbation of the fiscal balance.
Rep. Yoo called for the establishment of forward guidance, citing the loss of public trust over the Bank of Korea’s price stability goals.
Rep. Yoo, a seasoned tax expert, played a part in establishing a virtuous cycle of trickling corporate profits into household incomes and expediting consumption by revising tax laws in 2012, 2013 and 2014.
He was involved in parliamentary activities for the development of his constituency and Daegu, including a project to establish infrastructure for the Dongdaegu Complex Transfer Center, and the extension of a KTX line in a covered area over a stream.
