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 the government emphasized the importance of an active fiscal policy and investment in future industries during a consultative meeting to shape next year's budget. DPK floor leader Han Byung-do called for the government to prioritize the allocation of budget funds towards securing leadership in future industries, urging a strategic focus on areas supporting the youth and region-led growth.
Rep. Kwon Chil-seung, the DPK's chief policymaker, echoed this sentiment by advocating for strategic investments in artificial intelligence, aiming to position Korea among the world's top three AI powerhouses. Kwon also stressed that the 2027 budget should play an active role in not just supporting the country's growth but also driving its transformation, recommending investments in key sectors such as bio, culture, defense, and energy.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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