A storm is coming and nobody cares

The National Assembly’s first audit of the Yoon Suk-yeol administration went off track on Monday. After the prosecution raided the Institute for Democracy — a think tank of the Democratic Party (DP) — to find evidence of its deputy head taking illegal money from a stakeholder in the controversial Daejang-dong development project when DP Chair Lee Jae-myung was mayor of Seongnam, the DP broke out of the ongoing regular session of government audits and staged a rally in front of the office of President Yoon Suk-yeol in Yongsan to protest the raid.

The DP returned to the legislature in the afternoon, but the standoff between the DP and the People Power Party (PPP) is being intensified. The DP attacked the prosecution for staging an “act of aggression.” DP head Lee pleaded with supporters to “safeguard our democracy.” But such reckless defiance of a court-issued warrant for a search and seizure operation does not make sense.

The DP has decided to not allow President Yoon to make a speech on state affairs in the legislature Tuesday. Its refusal to listen to the president’s address on next year’s budget constitutes the utmost case of irresponsibility. If the DP really opposes a prosecutorial probe into the suspicious land project, it must follow legitimate procedures. If the party is engrossed with saving Lee no matter what, it cannot avoid severe public criticism.

The way the government and PPP are acting is disappointing too. As they are the governing forces, they must start deliberations on next year’s budget after the legislative audit is over. Differences between the two parties over creating jobs are increasingly growing. If the DP does not agree to a budget proposal from the government, the administration must follow this year’s budget for next year. That would be a first. Nevertheless, the PPP does not seek cooperation from the DP in a sincere manner.

Dark clouds are hanging over our economy. Despite the government’s plan to supply over 50-trillion-won ($34.6-billion) in liquidity to the financial markets, it will have a limited impact due to interest rate hikes and a looming recession. In the meantime, ordinary people’s livelihoods are getting harder. The country will most likely record a trade deficit for seven consecutive months primarily due to the slowed business cycle of semiconductors.

But the DP and PPP are still engaged in a political war. If they don’t stop it immediately, they will be judged harshly in the next election.