2024-04-12 22:45:39
Pledge investigation group “abusely makes promises without considering finances”
The estimated cost of implementing the social overhead capital (SOC) pledges of those elected in the 22nd general election was found to amount to 278 trillion won. Pledges were poured in, such as creating additional GTX stations, opening roads and railways, and creating various special zones. It is pointed out that over-promised promises without financial conditions and feasibility may cause regional conflict and reduce public trust in politics.
On the 12th, the Korea Manifesto Implementation Headquarters and Dong-A Ilbo analyzed the core pledges of the elected candidates for the April 10 general election and found that the financial resources for implementing SOC pledges amounted to at least KRW 277.8693 trillion. It is more than 42% of Korea’s 657 trillion won budget this year. This is a figure calculated only for 166 of the 254 elected members of the constituency who submitted the five core pledges and the financial report required to implement the pledges to the Manifesto Implementation Headquarters. By political party, the Democratic Party of Korea has 107 members and the People Power Party has 59 members.
The number of SOC pledges of elected officials was 616, or 74.8% of the total of the five core pledges (823). Among these, 378 (61.3%) were empty promises that did not even have cost estimates. If the costs of these pledges are added, the total financial resources required can increase significantly.
In this general election, GTX pledges were made competitively by district in line with the government’s GTX opening and expansion plan. Of the six elected candidates in the Incheon constituency where the GTX D line begins, five of them pledged to be exempted from the preliminary tax system, and there was also a candidate who made 28 transportation infrastructure pledges, including the expansion and opening of railroads and roads. Lee Gwang-jae, secretary-general of the Manifesto Implementation Headquarters, criticized, “If irresponsible pledges are made excessively without considering financial resources, there will inevitably be confusion in financial allocation in the future process of running state affairs.”
Busan Express Railway 4.7 trillion won – Gyeonggi Southern Airport 5 trillion won… “Excessive use of empty words increases political distrust”
Article 278 in SOC pledge of general election winner
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“Pour out financial resources, ignoring feasibility”
Joo Jin-woo, the People Power Party’s elected representative from Haeundae Gap in Busan, pledged to build a Busan-type express railway (BuTX) within his term. The financial resources required for this project alone are 4.76 trillion won. Considering that it took 15 years to open some sections of the Seoul Metropolitan Area Rapid Transit (GTX) Line A, it is a virtually impossible promise.
Baek Hye-ryeon, the Democratic Party of Korea-elect in Suwon, Gyeonggi Province, pledged to build Gyeonggi Southern International Airport. She estimated that 5 trillion won would be invested in finances alone. The airport in question was not reflected in the ‘Comprehensive Airport Development Plan’, which is the current top airport development plan. A government official said, “The regional conflict surrounding the airport has not been resolved and the location has not been designated, so the possibility of its construction is not high.”
On the 12th, the total cost of implementing the five core pledges of the 166 elected members of the 22nd general election, surveyed by the Korea Manifesto Implementation Headquarters and Dong-A Ilbo, was found to be 302.4479 trillion won. Of these, the funds needed for social overhead capital (SOC) pledges are KRW 277.8693 trillion (91.9%). There is criticism that making ‘or-nothing’ SOC pledges every time a general election can only increase conflict between residents, local governments, and the central government.
● ‘Over-promising’ SOC pledges without financial resource estimates
By political party, the number of SOC pledges made by 107 of the 161 elected members of the Democratic Party who responded to the questionnaire was 370, and the required financial resources were 184.2457 trillion won. Among the 90 people elected by the People Power Party, 59 people responded to the questionnaire, and it was calculated that it would cost 93.6236 trillion won to fulfill the SOC pledge. In the case of the People Power Party, 97.6% of the financial resources (KRW 95.9 trillion) for implementing the five overall pledges were SOC resources. If we combine the financial resources pledged by 88 elected candidates who did not submit data or have not been confirmed, the costs are expected to increase further. However, there may be some overlap, such as common projects being pledged in different constituencies.
There were 35 elected candidates who made pledges for GTX, a representative SOC project.
Lee Sang-sik, the Democratic Party’s elected representative from Yongin-gap, Gyeonggi Province, pledged to create a branch line for the GTX A route between Suseo and Dongtan, which has already been in operation since this month. The plan is to build a so-called ‘semiconductor line’ that will run from Guseong Station, one of the stops on GTX Line A, to Wonsam Station after passing Yongin City Hall. The length of the branch line alone is 27.2km, and the estimated construction cost is 1.4 trillion won.
In six constituencies in Incheon close to the start of the GTX D route, five of the six elected candidates, including Democratic Party leader Lee Jae-myeong, pledged to be exempt from the preliminary feasibility study (pre-feasibility study). Since this is a project that will cost trillions of won, it does not meet the pre-tax exemption condition of ‘project cost less than 100 billion won’. The issue of fairness with the GTX A, B, C routes, which were pre-tested, may also arise.
● Pledges that are unlikely to be realized, such as the 3rd Lotte World
In addition to the SOC pledges, there were many pledges that were unlikely to be realized. People Power Party lawmaker Kim Seong-won, who was elected in Dongducheon-Yangju-Yeoncheon, pledged to create a third Lotte World in the district to revitalize the local economy. However, Lotte Corporation has no plans to build a third Lotte World. Lotte C&T said, “The construction cost of the Jamsil Lotte World Tower alone is 4.5 trillion won, and there are remaining borrowings,” adding, “If we build a new tower, it will cost around 15 trillion won at best, but it is not easy.” Lee Yeon-hee, the Democratic Party of Korea-elect from Heungdeok, Cheongju, North Chungcheong Province, pledged to relocate the Blue House to Cheongju. Park Sang-woong, the People Power Party’s elected representative from Miryang-Uiryeong-Haman-Changnyeong, Gyeongsangnam-do, promised to attract more than five major national public enterprises without a specific implementation plan.
The SOC pledge is a long-awaited project to revitalize the local economy and is evaluated as a pledge that represents the public sentiment of voters. In elections, SOC pledges are a sure means to gain votes. However, many point out that distrust in politics ultimately begins with the overuse of official checks.
Shin Yul, a professor of political science and diplomacy at Myongji University, said, “After the pandemic, the political world has become insensitive to populist promises,” and added, “If they continue to make promises that are not feasible, voters’ hatred or distrust of politics will increase.”
Reporter Kim Hyeong-min [email protected]
Reporter Choi Dong-su [email protected]
Reporter Lee Seok-bok [email protected]
Reporter Oh Seung-jun [email protected]
2024-04-12 22:45:39