2019 Budget Proposal
The government proposed a large budget for 2019. Total expenditures will be increased by 41.7 trillion won, or 9.7 percent, compared with the 2018 budget, but the impact on fiscal balance and national debt will be limited given increased tax revenues. A total of 470 trillion won will be spent to help create jobs, support future growth engines, strengthen social safety nets, support low-income households, improve citizen well-being and enhance national security. The 2018-2022 fiscal management plan is drawn up to buttress job creation and support the development of new technologies and industries, as well as to ensure fiscal sustainability. * For further details, please refer to the attached file
Sep 2018