The government's proposal of maintaining a tight budget in 2025 illustrated its commitment to fiscal policy normalization amid the tax revenue shortfall, but calls for greater fiscal policy roles have also grown in the face of weak domestic demand an...

South Korea has increased funding for North Korean defectors to support their early settlement as part of its budget proposal for next year, in line with its new unification blueprint. The unification ministry's budget proposal, which was approved b...

The government earmarked 29.7 trillion won (US$22.3 billion) in the budget for research and development (R and D) projects in 2025, officials said Tuesday. Next year's R and D budget marks a 11.8 percent increase from this year, when it was signific...

The following is the gist of the state budget of 677.4 trillion won (US$509.71 billion) proposed by the finance ministry for 2025 on Tuesday, which marks a 3.2 percent on-year increase. The government also put forth estimates on total revenue and mid...

Industry Minister Ahn Duk-geun has confirmed that the government will increase electricity prices after summer comes to a close, in an effort to ease financial burdens on Korea Electric Power Corp (KEPCO). "We plan to raise electricity bills," Ahn s...

The government on Tuesday proposed a budget of 677.4 trillion won (US$509.71 billion) for next year as it seeks to increase welfare spending for vulnerable people and prop up economic growth while ensuring fiscal health. The proposed budget for 2025...