President Yoon Vows to Continue to Cut Back on the Reckless Spending of the Moon Administration
It looks like President Yoon is actually trying to be a conservative who actually wants to reduce spending unlike U.S. conservatives who only seem to care about cutting spending when they are not in charge:
President Yoon Suk Yeol vowed Tuesday to stick to a sound fiscal policy, strongly criticizing the preceding Moon Jae-in government for increasing national debts with reckless spending.
Yoon made the remark during a Cabinet meeting, pledging to reject temptations of spending for political purposes, as the government proposed a national budget of 656.9 trillion won (US$495 billion) for 2024, the slowest on-year growth since 2005.
“Due to the previous administration’s lax fiscal management, the national debts rose by 400 trillion won, and reached over 1,000 trillion won for the first time last year,” Yoon said in opening remarks at the Cabinet meeting.
Thanks to his administration’s efforts to achieve fiscal soundness, Yoon said the growth of national debts has markedly slowed, and the government will continue to stick to a sound fiscal policy for the sake of external credibility and price stabilization.
Yonhap
You can read more at the link.
That makes Yoon more attractive than 99.44% of American politicians.
And guess where’s he’s cutting?
Research and Development by 25% – gutting the already low morale South Korea’s science and technology researchers who are leaving the country in droves.
He’s also liquidating the financial support for technological innovation development for small- and medium-sized businesses to cut reliance on imported foreign parts and materials (like in the semiconductor industry). Hey, we’re now good with Japan, so let’s just go back to relying on Japan for all our crucial parts and materials, instead of letting our companies develop them so that Japan can blackmail us again in the future whenever the relations between the two countries sour again.
Also the National Defense – cutting there which is unlike what a true Conservative would do in such times when there are security challenges in the region galore. He’s also cutting Research and Development in the South Korean arms industry – I’m just surprised he didn’t completely cancel the KF-21 fighter program entirely.
In short, all these cuts are undermining South Korea’s future competitiveness (and the next government will take all the blame for this move, when the results of this idiotic move result in negative effects in a few years), as well as the country’s security.
He truly is the worst South Korean president, of all time.
Korean Homme,
Your statements are troubling enough to be worth looking into.
And it seems you are right.
However, with a bit of context, the irrational becomes rational.
“During the meeting, Yoon coined the term “R&D cartel,” calling to root out groups that seek to protect their vested interests in the R&D sector. The president also abruptly ordered more collaboration with overseas science research institutes.”
It appears the intention of these budget cuts are to:
– Force an end to the fraud, waste, and abuse that is deeply entangled in Korean R&D. The intended result is better financial management.
– Encourage more work with foreign reaearchers, so Korea’s research culture doesn’t become too isolated.
Will this work? Probably to some extent. Will this hurt? It depends who wins the budget battle between the researchers and the fraudsters.
The biggest cuts will be tax money to unions, social groups, and other leftist/communist/anti-Korean organizations.
The reality is after running a budget surplus for years, the globalists convinced Korea they needed to be in debt.
The Moon administration ran this debt up higher. Unlike America, which is going to manage impossible debt through global war, or Africa which simply doesn’t pay, Korea has to manage it through sound financial management and a bit of pain for the sins of the past.
Good, governments should spend more thant they take in and shouldn’t waste money on the unproductive welfare class.
I don’t think you have any idea what you’re talking about.
Korea’s ‘successful’ R&D projects are running at 99% success ratio (meaning 99% of what they research and develop comes to the market).
Do you know what that means? It’s not good. Because it means Korean R&D groups pick only the safe projects that are assured of “success”. Now this cutting of “R&D fraud and waste” will only mean the developers will never take any chances – they will only pick safe choices. Neither you nor Yoon understands what Research and Development really means. What a shame.
“I don’t think you have any idea what you’re talking about.”
Ho ho ho… if only you knew how wrong you are.
To give you a hint, it is pretty common to demand all new stuff, from desktop computers to expensive lab equipment, for every project when the government pays.
This somewhat makes sense. You don’t want to put your heart into researching something only to find your hundred thousand dollar sensor doesn’t sense right becasue the last guy didn’t take care of it.
However, the culture of wanting everything new because it’s new, and there is plenty of government money to have it, looks like it may come to an end.
Gonna have to reformat that hard drive and send the meter out for calibration, Dr. Kim.
As I already wrote: 99% success ratio.
Now if they cut your salary by 25% overnight for no good reason, I’m sure you’ll still feel like you want to stick around.
“Now if they cut your salary by 25% overnight”
Who got a 25% salary cut?
That’s right. Nobody.
You made that up because the facts are against you and you have nowhere left to go.
And who will cut reckless spending being done by the Yoon government?
So now that you have exhausted every false direction on your original needless whine, it has been abandoned and the new issue is whatabout Yoon.
OK.
Let’s see if this has legs.
Give some examples of Yoon’s reckless spending.
The Setnaffarians seem to have forgotten Yoon wasting a billion Won to move the Presidential Office to Yongsan for reasons that still today are not clear.
This resulted in the Defense Ministry moving to several buildings which affected the command and control capabilities of the Korean military.
We can consider ourselves lucky that KJU didn’t try anything during that period.
Korea Person, I am inclined to agree.
But when I see smart people do irrational things, my first instinct is to try to find the information I don’t know.
If I was to take a wild and crazy guess, I would say the previous party left too many listening devices in the Blue House to be sure you got them all.
And the only way to win that game is not to play.
Suddenly the move, at any expense, seems like a good deal.
And your wild guess is wrong. He moved because of what this Taoist fraudster priest said, that there is a bad spirit in the Blue House.
https://www.newstof.com/news/articleView.html?idxno=12886
You guys know nothing.
Yoon is also spending $5.6 million to raise a commemoration for Don McClean’s song, “American Pie”.