{
  "id": 4997423,
  "title": "(LEAD) Lee says now is time to expand economic pie, rather than welfare",
  "url": "https://urgent.news/2026/09/02/lead-lee-says-now-is-time-to-expand-economic-pie-rather-than-welfare",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-02T02:27:31.000Z",
  "source": {
    "name": "Yonhap News",
    "slug": "yonhap-news",
    "url": "https://en.yna.co.kr/view/AEN20260902003551315"
  },
  "original_language": "en",
  "account": "SEOUL, Sept. 2 (Yonhap) -- President Lee Jae Myung stressed on Wednesday that the government should prioritize expanding the economic pie rather than welfare, as pursuing both simultaneously is currently unrealistic. In a message posted on his X account, the president emphasized that allocating spending for welfare distribution should not come at the expense of economic growth. He argued that while it is ideal to expand both growth and welfare, the current economic situation makes this approach unfeasible. Despite this, Lee clarified that the government has not reduced welfare spending, warning that a lack of sustained growth could worsen economic polarization and potentially lead to a decline in welfare. The government recently proposed a record 820.9 trillion-won budget for the upcoming year, reflecting an increase of over 10 percent from the current year, driven by anticipated higher tax revenues due to a semiconductor boom. During a Cabinet meeting, President Lee highlighted bolstering the country's global industrial competitiveness as one of the key goals for the 2027 budget. According to a presidential aide, the government anticipates collecting more than 200 trillion won in corporate tax next year, attributing this growth to the semiconductor industry. The aide noted that tax revenue is projected to surpass 580 trillion won by 2027, calling the potential revenue \"enormous.\"",
  "summary": "SEOUL, Sept. 2 (Yonhap) -- President Lee Jae Myung said Wednesday it is unrealis...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Yonhap News",
        "title": "Lee says now is time to expand economic pie, rather than welfare",
        "url": "https://urgent.news/2026/09/02/lee-says-now-is-time-to-expand-economic-pie-rather-than-welfare-4990291",
        "published": "2026-09-02T01:49:53.000Z"
      },
      {
        "outlet": "The Korea Times",
        "title": "Lee says now is time to expand economic pie, rather than welfare",
        "url": "https://urgent.news/2026/09/02/lee-says-now-is-time-to-expand-economic-pie-rather-than-welfare",
        "published": "2026-09-02T02:02:03.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}