Chairman Kim Sang-jo of the Fair Trade Commission (KFTC) answers questions while appearing during the National Assembly National Policy Committee’s audit of the KFTC on Oct. 19.

Deputy Prime Minister and Minister of Strategy and Finance Kim Dong-yon speaks at the National Assembly Strategy and Finance Committee’s audit of the MOSF.

A parliamentary audit of the government, focused on such topics as fairness and job creation, has put ruling and opposition sides at loggerheads. 

Chairman Kim Sang-jo of the Fair Trade Commission (KFTC) said his commission was closely monitoring conglomerate family owners’ defrauding their own interests and offering support in an unfair fashion. Chairman Kim made the remarks while appearing during the National Assembly National Policy Committee’s audit of the KFTC on Oct. 19. His remarks demonstrate that the KFTC is focused on preventing conglomerate family owners from strengthening their grip over companies by employing expedient methods in an unfair manner. 

The topic of fairness also came up in a National Assembly committee meeting on trade, energy, SMEs and startups on the same day. The Ministry of SMEs and Startups said it was considering imposing business restrictions on large-sized outlets specializing in such items as furniture to protect small shop merchants and traditional market shop owners. In order to help small businesses, large Korean supermarkets are subject to operating restrictions, but IKEA outlets are excepted from the rules, even though they are massive outlets offering diverse daily necessities, including food. 

Minister Paik Un-gyu of the Ministry of Trade, Industry and Energy said the government will live up to principles of maxing out national interests and balancing gains while holding negations on the revision of the Korea-U.S. Free Trade Agreement. He told his ministry’s position at the committee’s audit on Oct. 13. 

President Cho Hwan-eik of Korea Electric Power Corp. said chances are high the government’s energy policy shift into the weaning the nation from nuclear power and expanding of new and renewable energies will raise electricity charges in the mid- and long-term perspective. He made the remarks while replying from a question by Rep. Kim Do-up of the Liberty Korea Party during the National Assembly Trade, Industry, Energy, SME, and Startups Committee’s interpellation on Oct. 23.

The National Assembly Strategy and Finance Committee took up such issues as the President Moon Jae-in’s government’s policies on income-led growth and job creation. Deputy Prime Minister and Minister of Strategy and Finance Kim Dong-yon stressed the need to restore a “virtuous economic cycle” of job creation, distribution and growth by expanding household incomes through. 

Lawmakers on the National Assembly’s Land, Infrastructure and Transport Committee made an inspection tour of Daecheong Dam, which is managed by K-water, on Oct. 19. 

Chairman Chang Byong-wan of the National Assembly Trade, Industry, Energy, SME, and Startups Committee

Chairman Chang Byong-wan of the National Assembly Trade, Industry, Energy, SME, and Startups Committee

The tour was designed to shed insight into the breakout of algal blooms. 

Committee members urged the government and K-water to come up with steps to strengthen the management of the area surrounding the dam and waste water treatment to prevent the algal bloom situation from reoccurring every year. 

Opposition party lawmakers sitting on the National Assembly Health and Welfare Committee carried out a full-scale offensive against the President Moon Jae-in government’s welfare policies on Oct. 13. On the second day of the committee’s audit into the Ministry of Health and Welfare, Rep. Kim Myeong-yeon of the Liberty Korea Party claimed that 10,610 kids under 6 years old own stocks worth 181.8 billion won, inherited by their parents. Kim said baby endowments should not be available for the affluent. 

Starting next July, children under 6 years will be entitled to baby endowments from their parents’ incomes. 

Rep. Kim Seung-hee, also of Liberty Korea Party, called for a revision to that law, saying it’s prone to abuse. He noted that 216 children aged under 10 who are registered as housing rental businessmen.

Minister Park Neung-hoo of the Health and Welfare Ministry replied that baby endowments are paid regardless of their parents’ income levels, and in the UK, which introduced a baby endowment system, even princes received such allowances. 

Rep. Song Suk-joon of Liberty Korea Party called for the baby allowance system to be revised, saying it should be given more prudence since such welfare expenditures cannot easily be altered or scrapped once they’re launched. One day earlier, opposition lawmakers called for the revision of President Moon Jae-in’s welfare policies for greater health benefits they called “clumsy, less defined, and needed to be supplemented.”

The opposition side lashed out at the government as the Ministry of Health and Welfare did not disclose the name of outside experts who participated in the process of drawing President Moon’s care policies. Rep. Kim Sang-hoon claimed that the government’s failure to disclose the list of outside experts who participated in the design of policies that would cost tremendous expenditures ― 30.6 trillion won over five years ― violates the law related to parliamentary testimonies and evaluations. 

President Lee Kwan-sup of Korea Hydro& Nuclear Power (KHNP) said it is necessary to retain nuclear power, but policy decision-making is up to the government. He made the remarks while appearing during the National Assembly Science, ICT, Broadcasting and Communications Committee’s audit into KHNP at the Saeul Nuclear Power Complex on Oct. 25. He said in realty, people feel misgivings over nuclear power, and The fault is with KHNP which has failed to give trust, he said. 

Opposition party lawmakers lashed out at the government ‘s clumsy handling of the issue of negotiations on the revision of the Korea-U.S. FTA during the National Assembly Agriculture, Food, Rural Affairs, Oceans and Fisheries Committee’s audit of the Ministry of Agriculture, Food and Rural Affairs on Oct. 12. Rep. Hong Moon-pyo of the Liberty Korea Party said major government officials, including President Moon Jae-in, shut their mouth tight on the U.S. side’s renegotiations of the treaty, but later conceded it.