South Korea’s Ministry of Economy and Finance (MOEF) finalized its 2025 budget proposal guidelines on March 26, aiming to enhance fiscal responsibility while supporting key areas such as economic innovation, welfare and security. The guidelines emphasize transforming the fiscal investment system to foster innovation in all research and development (R&D) areas, with a significant expansion of investment in future strategic fields like artificial intelligence, advanced biotechnology and quantum technologies, as well as support for new researchers.

The budget proposal also prioritizes addressing low birth rates by reducing childcare and education burdens, supporting young people through scholarships and job opportunities and improving living conditions in regional hubs. The government plans to submit the finalized budget proposal to the National Assembly by Sept. 2, following consultations with ministries, local governments and public input.