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The government has set next year's budget at 821 trillion won, marking an increase of over 90 trillion won compared to this year. This opens the era of the first 800 trillion won budget, and it faces criticism for the rapid increase in national finances in a short period, alongside concerns about inflation. Total expenditures for next year are projected to be 820.9 trillion won, a 12.8% increase from this year's main budget, representing the highest growth rate on record.
Total revenue for next year is expected to be 880.8 trillion won, which is a 30.4% increase from this year's main budget. Particularly, thanks to the semiconductor boom, national tax revenue is expected to increase by 194.2 trillion won, improving the national debt ratio. The government plans to invest 21.3 trillion won in the artificial intelligence (AI) sector and strengthen youth support policies. There are also plans to significantly increase the budget for marriage, childbirth, and childcare support.
President Lee Jae-myung emphasized that the budget should play a refined role to minimize the suffering of vulnerable groups due to rising interest rates and to ensure that growth potential is not compromised. However, experts point out that the government's budget increase could be a source of instability, raising questions about the actual investment effects. In particular, there is an urgent call for concrete measures regarding youth support policies.