Government and Democratic Party Begin Budget Planning for Next Year

by SONG SEUNG HYUN Posted : August 14, 2026, 10:36Updated : August 14, 2026, 10:36

The Democratic Party and the government initiated discussions on the direction and enhancements of next year's budget on August 14. They appear to be considering how to incorporate the three major projects promoted by the Lee Jae-myung administration and the management of surplus tax revenue resulting from the semiconductor boom into the budget.


On the morning of the same day, a closed meeting was held at the National Assembly to discuss the direction of the 2027 budget. After the meeting, Han Jeong-ae, chair of the policy committee, told reporters that there was nothing specific to disclose about next year's budget, stating, "The government has not yet submitted a detailed budget proposal, so the approximate size of the budget was not a topic of discussion."


Park Sang-hyuk, a lawmaker, noted, "There was a Q&A regarding the direction the government is pursuing for next year's budget," adding that the meeting focused on what aspects would be reflected in the budget and what enhancements were being considered.


Since the meeting was held behind closed doors, the Democratic Party avoided providing direct answers regarding the government's economic measures, including next year's budget. When asked if the party agrees with the government's expenditure restructuring plan, Han responded, "No, not necessarily." She also clarified that discussions on the future response fund, initially mentioned as a topic for discussion, were not addressed in the meeting.


Furthermore, the Democratic Party announced plans for an official meeting with the government to discuss the budget at the end of this month, indicating that specific discussions related to the budget had not yet taken place. Han stated, "We plan to hold a separate meeting at the end of August, where we will learn about the government's direction and approximate size of the budget."





* This article has been translated by AI.