Korea's fiscal balance continues to improve through August: Budget Ministry Strong corporate earnings, higher incomes and more home transactions lifted tax revenue through August, narrowing Korea’s managed fiscal deficit. 2026.10.15
Korea's debt per capita to top 30 million won by 2028 National debt per capita is projected to exceed 30 million won ($22,300) in 2028 as spending rises despite a semiconductor-driven tax windfall. 2026.9.8
Fiscal deficit narrows to three-year low on strong tax revenue The government collected 381.9 trillion won ($270 billion) in revenue in the first half of the year, while spending reached 425.8 trillion won. 2026.8.13
Korea raises 2027 foreign aid budget with focus on AI, health care, climate resilience The government’s 6.3 trillion won ODA plan for 2027 expands support for health care, culture and flood and drought prevention while making AI a flagship priority. 2026.7.23
Education grant reform can no longer be delayed (KOR) A government forum highlighted mounting concerns that Korea’s automatic education grant system is driving wasteful spending despite a shrinking student population. 2026.7.9
Education grant reform can no longer be delayed A government forum highlighted mounting concerns that Korea’s automatic education grant system is driving wasteful spending despite a shrinking student population. 2026.7.8
Budget ministry plans to restructure 900 state projects to save up to 7.7 trillion won Korea's budget ministry said Monday it has designated around 900 state-funded projects for budget cuts, consolidation or abolition in a move expected to help the government save up to 7.7 trillion won ($5.12 billion). 2026.5.18
Budget minister emphasizes need for renewable energy support, signals inclusion in next year's budget Budget Minister Park Hong-keun on Friday emphasized greater budgetary support for local renewable energy companies to help them strengthen their competitiveness worldwide. 2026.5.8
Government proposes 26.2 trillion won supplementary budget to cushion price shocks The government on Tuesday proposed a supplementary budget of 26.2 trillion won ($17.1 billion), largely aimed at cushioning the impact of surging fuel prices, that will include cash handouts for about 70 percent of the population. 2026.3.31
Confirmation hearing report for planning and budget minister nominee approved Lawmakers approved a confirmation hearing report for Park Hong-keun, nominee for minister of planning and budget, on Tuesday, clearing the way for his appointment after a monthslong vacancy following his predecessor’s failed nomination. 2026.3.24
![A sign for he Ministry of Planning and Budget is seen at the government complex in Sejong on Jan. 6. [YONHAP]](https://image.koreajoongangdaily.com/12552724.jpg?imageId=12552724&width=240&height=184&format=webp&format=jpg)
![Budget Minister Park Hong-keun speaks during a meeting between domestic solar cell manufacturers and local government officials at the Hanwha Qcells plant in Jincheon County, North Chungcheong, on May 8. [MINISTRY OF PLANNING AND BUDGET]](https://image.koreajoongangdaily.com/12585058.jpg?imageId=12585058&width=240&height=184&format=webp&format=jpg)
![Budget Minister Park Hong-keun, center, speaks to reporters at the government complex in Sejong on March 31. [YONHAP]](https://image.koreajoongangdaily.com/12517062.jpg?imageId=12517062&width=240&height=184&format=webp&format=jpg)
![Park Hong-keun, nominee for minister of planning and budget, speaks during a confirmation hearing at the National Assembly in Yeouido, western Seoul, on March 23. [NEWS1]](https://image.koreajoongangdaily.com/12578545.jpg?imageId=12578545&width=240&height=184&format=webp&format=jpg)