Minister nominee Park Hong-geun of the Ministry of Planning and Budget said, "Starting with next year's budget formulation, we will carry out an unprecedented expenditure restructuring," adding, "Through this, we will comprehensively secure resources and deploy them to the five major structural crises: industrial transformation, demographic change, the climate crisis, the extinction of local regions, and polarization."
On the 23rd, at the National Assembly's Financial and Economic Planning Committee confirmation hearing for nominees, Park answered this way to a question from Democratic Party of Korea lawmaker Park Min-gyu that said, "Save public finances and conduct expenditure restructuring, but bold investment is needed for national projects."
Park said, "Until now, expenditure restructuring has been limited to discretionary expenditure, but I believe we must carry out the largest-ever expenditure adjustment, including mandatory expenditure," adding, "Starting with next year's budget formulation, it is proper to do it comprehensively and, by securing resources, invest first in places where it is more needed."
Park said, "Resources are limited. While expanding the tax revenue base, it must also be carried out in tandem how to properly assess existing resources and undertake bold expenditure restructuring," adding, "If such work has so far been dismissed as the business of the budget authorities, what will become important now is how to guarantee the participation of the public and the National Assembly. We will disclose a lot of information (on budget review and evaluation)."