Prime Minister of Korea "Next year's budget will focus on expanding growth... Please process it within the statutory deadline."

Participating in policy questions from the Budget and Accounts Committee… “Necessary support and investment must be provided at the right time.”

(Seoul = Yonhap News) Reporter Lee Sang-hyun = Prime Minister Han Seong-sook said on the 4th about the government's budget plan for next year, "We focused on preoccupying the future to advance new opportunities and expanding growth to spread those achievements to the people."

Prime Minister Han said this in his greeting at the general policy inquiry of the National Assembly's Special Committee on Budget and Accounts, saying, "Now is the time to move beyond inequality and polarization and move toward growth for all, where all regions and all citizens enjoy the fruits of growth and opportunity."

He explained that the three principles of government budget planning are to "invest boldly in necessary areas, overhaul inefficient projects, prioritize financial support over tax cuts, and provide greater support to local governments for balanced national development."

He explained, “According to this principle, we promoted an expenditure restructuring of 107.2 trillion won, converted 1.9 trillion won of tax expenditures into financial support, and expanded local preferential projects to 61.”

He also added, "We will establish a new future response fund and strategically invest additional tax revenue in youth, future growth engines, local regions, and educational talent. We will also use the surplus funds to strengthen fiscal capacity when tax revenues are insufficient and reduce the burden of new issuance of government bonds."

Prime Minister Han specifically introduced various policies, including strengthening support for the vulnerable, intensive investment in the three mega projects and artificial intelligence, protecting people's lives and safety, and establishing a foundation for peace.

He emphasized, "Next year's budget contains the government's will and concerns to alleviate the difficulties faced by the people's livelihood and prepare for a new leap forward for our economy," and added, "What is needed is to continue the trend of economic recovery while ensuring that all citizens can feel the results."

He added, “Necessary support and investment must be provided in a timely manner,” and added, “We sincerely ask you to process the budget and fund management plan by the legal deadline so that we do not miss opportunities for recovery of people’s livelihoods and future growth.”