Acting president signals front-loaded spending to ease political and market volatility amid cuts to contingency reserves
South Korean Acting President Han Duck-soo vowed to execute the 2025 budget immediately on Jan. 1, directing ministries to swiftly allocate funds to revive the economy. Speaking at Tuesday’s Cabinet meeting, Han emphasized prioritizing support for vulnerable groups, small businesses and critical high-tech industries, urging all available resources to be mobilized in the first half of next year.
Han’s remarks come amid political gridlock after the opposition’s unilateral passage of a $468.5 billion (673.3 trillion won) budget, which slashed contingency reserves and special activity funds by 4.1 trillion won ($2.85 billion). Han’s directive signals the government’s push to maintain momentum despite constrained fiscal flexibility.
South Korean Acting President Han Duck-soo vowed to execute the 2025 budget immediately on Jan. 1, directing ministries to swiftly allocate funds to revive the economy. Speaking at Tuesday’s Cabinet meeting, Han emphasized prioritizing support for vulnerable groups, small businesses and critical high-tech industries, urging all available resources to be mobilized in the first half of next year.
Han’s remarks come amid political gridlock after the opposition’s unilateral passage of a $468.5 billion (673.3 trillion won) budget, which slashed contingency reserves and special activity funds by 4.1 trillion won ($2.85 billion). Han’s directive signals the government’s push to maintain momentum despite constrained fiscal flexibility.
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