However, among budget authorities and financial experts, the overwhelming view is that "budget cuts do not constitute a 'national emergency' equivalent to wartime or a state of emergency." Particularly, just before the declaration of martial law, there was a clear trend of negotiations between the government, the ruling party, and the opposition party. At that time, the Democratic Party of Korea was trying to propose an unprecedented budget cut, but National Assembly Speaker Woo Won-shik emphasized 'bipartisan agreement,' suggesting the possibility of negotiations. On December 1st, Lee Jae-myung, the leader of the Democratic Party of Korea, also said, "Local currency is the most complex and effective policy, but we only have the authority to cut it," leading to many analyses that the budget cut proposal would be used as leverage to increase local currency. In fact, the Ministry of Strategy and Finance was considering how to accept the local currency project proposed by the opposition party to some extent and how to increase the parts reduced in the government plan through negotiations. Despite the situation where tug-of-war negotiations between the government, the ruling party, and the opposition party could begin, President Yoon hastily defined it as a national emergency equivalent to wartime and linked it to martial law.
The day President Yoon declared martial law on December 3rd last year was not even the usual time for the National Assembly to finalize the budget. Since the implementation of the National Assembly Advancement Act in 2014, which includes the automatic referral system for the budget bill to the plenary session, the budget finalization dates in the National Assembly were December 2-3 in 2015, 2016, 2020, and 2021. However, there were many cases where it was finalized in mid to late December, such as December 8-10 (2017-2019) and December 21-23 (2022-2023). Even within the Ministry of Strategy and Finance, the budget authority, the majority opinion was that it "doesn't make sense" for the president to declare martial law due to budget cuts.
Experts also criticize the president's declaration of martial law, blaming the opposition party's budget cuts as 'nonsense.' Lee Sang-min, a senior researcher at the Korea Institute of Public Finance, pointed out, "According to the spirit of the separation of powers, the government budget is finalized through reductions and increases in the National Assembly," and "It is a political practice to use 'brinkmanship tactics' in the negotiation process between the ruling and opposition parties, but the president seems to have either completely misunderstood this political practice or viewed the budget negotiation process too negatively."
It's not the first time we've seen a budget being finalized,
but to get so worked up over budget cuts and come up with such unreasonable reasons.
How could such a closed-minded and rigid person
end up in the position of president...
This is our self-inflicted misfortune and disaster.
Now, the only way is to take it back with our own hands.
Having wielded power arbitrarily, ignoring the law,
now it's time to take responsibility.
I hope they reflect on this responsibility forever.