Ahead of next year’s legislative elections scheduled for April 10, the Yoon Suk-yeol administration has unveiled its 2024 budget proposal, stepping into a charged political arena. 

The ruling People Power Party (PPP) is strategically positioning itself against the dominant Democratic Party (DP) in the National Assembly. With both parties separated by a razor-thin margin in public support — PPP at 33% and DP at 32% — the budget’s details and implications are likely to become central to their electoral campaigns.

South Korea finds itself at an economic crossroads, with major global institutions predicting modest growth of around 1.5%. Against