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 speak before the National Assembly on Monday, a highly anticipated event where he is anticipated to advocate for bipartisan backing for the 2027 government budget. The administration submitted the budget bill to the National Assembly in September, outlining a total expenditure of 820.9 trillion won ($614.5 billion) for the upcoming year, marking an increase of over 10 percent from the present year.
This projected growth is attributed to expectations of heightened tax revenue resulting from a burgeoning semiconductor industry.
In his address, President Lee is anticipated to underscore the necessity for robust expenditure to ensure the stability of individuals' well-being, foster industries poised for future expansion, and foster equitable regional development. He is expected to emphasize the importance of garnering parliamentary support for the budget's approval.
The budget bill, the largest ever, includes the creation of a 160 trillion-won Future Fund. This fund is intended to assist younger generations, stimulate key growth sectors, and enhance regional development.
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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- 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
