Ruling party, gov't stress active fiscal policy to boost growth in 2027 budget
The ruling Democratic Party of Korea (DPK) and the government on Tuesday stressed the need for the active role of fiscal policy and investment in future industries to support the country's economic growth. "Above all, we should focus our fiscal capacity on securing leadership in future industries," DPK floor leader Han Byung-do said during a consultative meeting between party and government…
The Democratic Party of Korea (DPK) and government officials emphasized the importance of fiscal policy and investment in future industries at a consultative meeting ahead of the 2027 budget. DPK floor leader Han Byung-do urged the government to strategically allocate budget resources, prioritizing areas that support youth development, regional growth, and future industries.
Rep. Kwon Chil-seung, the DPK's chief policymaker, echoed this sentiment, advocating for significant investment in artificial intelligence (AI) to make Korea one of the world's top three AI nations. The 2027 budget must actively contribute to the nation's growth and transformation, according to Kwon, with investments required in key sectors like bio, culture, defense, and energy.
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