Ruling and opposition lawmakers clashed over the size and appropriateness of the supplementary budget during interpellation sessions that began on the 3rd, following the government's submission of the extra budget bill. The opposition warned that "the wartime extra budget could pour fuel on prices in an era of high inflation" and called for cuts to populist, vote-buying spending items. Prime Minister Kim Min-seok pushed back, saying the budget's "impact on prices is minimal" and repeatedly stressing the necessity of the supplementary budget.
PM Kim appeared at the National Assembly for interpellation on politics, diplomacy, unification and security affairs, and actively rebutted opposition lawmakers who raised the possibility of inflation driven by the extra budget. "Concerns about stagflation are themselves reflected in this supplementary budget," he said. "The overall intention is to prevent excessive price increases." He added, "There are analyses showing that when the growth rate falls below the potential level, the impact of budget spending on overall prices is minimal."
The opposition criticized the government for drawing up two supplementary budgets within one year of taking office, calling it a vote-buying move aimed at local elections. Yoon Sang-hyun, a lawmaker of the People Power Party, said, "Conservative governments have refrained from extra budgets, while Democratic Party governments have been aggressively bold about them. We have entered a 'golden age of supplementary budgets,' an 'era of extra-budget addiction,' repeating supplementary budgets every time the economy slows." PM Kim responded, "The government did not create the conditions requiring a supplementary budget. It would have been better if there had been no situation warranting frequent extra budgets. At the very least, it is hard to deny that this supplementary budget is based on the situational grounds of war."
While the government explained the purpose of the "wartime extra budget," the opposition pointed out that a large number of populist spending items had been included. Yoon said, "Among the supplementary budget items, there are many populist items such as culture and arts performance support, accommodation discounts and the K-New Deal Academy. There are strong concerns that this is an 'election and vote-buying extra budget' aimed not at war but at local elections. Please block wasteful populist budget spending." PM Kim explained, "Those items cover the sectors that have been hit hardest by the economic difficulties caused by the war. When the economy struggles due to consumption elasticity, culture and tourism are the first areas where spending is cut." He added, "The political situation is not such that there is any need to push through a supplementary budget just to influence elections at this point."
Intensive questioning also followed on the possibility of oil supply disruptions due to a blockade of the Strait of Hormuz and the government's response. In response to a question from Bok Gi-wang, a lawmaker of the Democratic Party of Korea, on whether Iran's transit fee measures could become a factor affecting Korea's oil supply, PM Kim said, "As of now, there is no discussion or consideration of transit fees within the government." He continued, "We are not yet assessing what impact transit fees would have on domestic oil supply, but we will continue to review it closely." On concerns over Korea's oil supply, he said, "So far, it is at a manageable level," adding, "We are making efforts such as swaps for privately secured crude oil." He also noted that Korea's strategic petroleum reserves cover more than 200 days of supply.
As U.S. President Donald Trump calls on allied nations to join in defending the Strait of Hormuz, Foreign Minister Cho Hyun said South Korea has not been asked by the United States to share the cost of a Middle East conflict. In response to Democratic Party lawmaker Lee Gi-heon's question on whether Korea is a nation that depends on the U.S.-South Korea alliance or one that can help design it, Cho said, "There are parts where we inevitably depend, and we cannot deny that, but we must now design together and elevate the alliance to a higher level."
Foreign Minister Cho was also asked by Jeong Hye-gyeong, a lawmaker of the Progressive Party, whether South Korea should officially declare its opposition to a war of aggression in connection with a potential Iran conflict. Cho responded, "An international definition of whether it is a war violating international law or a war of aggression has not been established. We are determining our position very carefully while reviewing all aspects."