Lee to address National Assembly on next year's gov't budget
President Lee Jae Myung was set to address the National Assembly on Monday, a rare event where he is widely expected to call for bipartisan support for the passage of the 2027 budget bill. The government submitted the budget bill to the National Assembly in September, proposing 820.9 trillion won ($614.5 billion) in total government spending next year, up more than 10 percent from this year, amid…
President Lee Jae Myung is scheduled to deliver a speech to the National Assembly on Monday, a highly anticipated event where he is expected to urge bipartisan support for the 2027 government budget. The administration submitted the budget proposal to the National Assembly in September, with a total estimated spending of 820.9 trillion won ($614.5 billion) for the upcoming year, reflecting a 10% increase compared to the current year.
This surge in spending is anticipated to be fueled by a projected rise in tax revenue due to the burgeoning semiconductor industry.
In his address, Lee is projected to emphasize the necessity of substantial investments in preserving citizens' well-being, fostering emerging industries that will drive future growth, and facilitating equitable regional development. He will also appeal for parliamentary backing to ensure the budget's approval. The budget, the largest ever proposed, includes the creation of a 160 trillion-won Future Fund, intended to aid younger generations, stimulate key economic growth sectors, and bolster regional development initiatives.
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.
This story
This is one outlet's version. Read the fullest account.
- Lee to address National Assembly on next year's gov't budget en.yna.co.kr
- Lee to address National Assembly on next year's gov't budget koreatimes.co.kr
