Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol said President Lee Jae-myung's mention of an "emergency fiscal order" was likely not intended as a directive for actual implementation.
Koo made the remarks on Wednesday while appearing before the National Assembly's Strategy and Finance Committee. President Lee had stated at a Cabinet meeting on May 31 that "if necessary, we could utilize the emergency fiscal order prescribed by the Constitution." Koo said the president's comment "was not meant as an instruction to do so."
In response to a question from Park Dae-chul, a lawmaker of the People Power Party, about whether there had been any discussion process regarding the emergency fiscal order, Koo said, "There was no such process." He added that the president's remarks were meant to convey "the sense of urgency and the need to respond well." Koo further noted, "The president did not actually tell us to do it, which is why I believe he made the remark without consulting with us."
President Lee had expressed the need for preemptive and bold responses to concerns over energy supply instability at the May 31 Cabinet meeting. He said the government should "not be bound by convention, pursue legislation if necessary, and maximize the authority and capabilities we have," while mentioning the emergency fiscal order. Under Article 76 of the Constitution, the emergency fiscal order grants the president the authority to take urgent fiscal measures without National Assembly approval when the economy faces a serious crisis.