South Korea's Bold Governance Overhaul Sparks Debates
South Korea is planning a substantial overhaul, dismantling its prosecution service and shifting budgetary powers from the finance ministry. President Lee Jae Myung's initiative is aimed at reducing agency power, but the move is controversial, with critics concerned about potential impacts on independence and economic policies.
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In a groundbreaking move, South Korea announced plans to dismantle its prosecution service and reassign budgetary responsibilities away from the finance ministry. This major restructuring aims to establish new autonomous bodies for handling critical governmental functions. The reform is part of President Lee Jae Myung's campaign pledge to decentralize agency power, although it has faced criticism from experts.
The Interior Minister Yun Ho-jung, speaking after a pivotal meeting, confirmed that the government is working with the ruling party to transfer the budget-making power to a new entity. According to Yun, these changes will help in addressing significant national agendas like climate response and AI integration.
Concerns have emerged from legal and economic experts over the potential loss of prosecutorial independence and the risk of escalating debt under new budget policies. The reforms, which require parliamentary approval, are paced to take effect a year from the legislative endorsement.
(With inputs from agencies.)
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