  Analysis Yoon braces for political battle as he unveils dramatically scaled back budget2024 proposal raises spending by least amount in nearly two decades, cutting R&D investment but hiking pension payouts  In a move reflective of his administration’s conservative leanings, South Korean President Yoon Suk-yeol unveiled a budget for 2024 on Tuesday that called for the smallest annual hike in spending in nearly two decades. Capped at $496.5 billion (656.9 trillion won), the budget marked the most modest increase since 2005 at just 2.8%, thanks to significant budget cuts in some areas. © Korea Risk Group. All rights reserved. Get the Daily Briefing Start your day with
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November 24, 2024
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