{"id":2207558,"date":"2024-12-18T08:00:39","date_gmt":"2024-12-17T23:00:39","guid":{"rendered":"https:\/\/koreapro.org\/?p=2207558"},"modified":"2024-12-17T14:14:12","modified_gmt":"2024-12-17T05:14:12","slug":"han-duck-soo-pushes-for-swift-2025-budget-execution-amid-fiscal-uncertainty","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2024\/12\/han-duck-soo-pushes-for-swift-2025-budget-execution-amid-fiscal-uncertainty\/","title":{"rendered":"Han Duck-soo pushes for swift 2025 budget execution amid fiscal uncertainty"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">South Korean Acting President Han Duck-soo <\/span><a href=\"https:\/\/www.opm.go.kr\/opm\/news\/press-release.do?mode=view&amp;articleNo=158337\"><span style=\"font-weight: 400;\">vowed<\/span><\/a><span style=\"font-weight: 400;\"> to execute the 2025 budget immediately on Jan. 1, directing ministries to swiftly allocate funds to revive the economy. Speaking at Tuesday\u2019s 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.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Han\u2019s remarks come amid political gridlock after the opposition\u2019s <\/span><a href=\"https:\/\/koreapro.org\/2024\/12\/south-koreas-finance-ministry-pledges-liquidity-measures-to-calm-market-fears\/\"><span style=\"font-weight: 400;\">unilateral passage<\/span><\/a><span style=\"font-weight: 400;\"> 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\u2019s directive signals the government\u2019s push to maintain momentum despite constrained fiscal flexibility.<\/span><\/p>\n<p><b>WHY IT MATTERS<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Han\u2019s push to mobilize all available financial resources in the first half of next year signals a de facto front-loading strategy. By accelerating spending, the government likely aims to deliver an immediate economic boost to offset political turbulence and lingering market volatility.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The move also suggests Han is leaving room for future supplementary budget discussions. With contingency reserves halved and 4.1 trillion won in cuts, additional funding may be required later to restore fiscal buffers or address unforeseen shocks.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For businesses, the early spending could provide short-term clarity and cash flow relief, particularly for small enterprises and industries tied to public investments. However, broader concerns remain over political gridlock and its impact on critical policies needed to drive long-term growth and investment.<\/span><\/p>\n<div class=\"content-tags\"><a href=\"https:\/\/koreapro.org\/tag\/business-economy\/\"><span class=\"tag\">Business &amp; Economy<\/span><\/a><a href=\"https:\/\/koreapro.org\/tag\/domestic-politics\/\"><span class=\"tag\">Domestic Politics<\/span><\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>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\u2019s 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 [&hellip;]<\/p>\n","protected":false},"author":10407,"featured_media":2207559,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[24,27],"class_list":["post-2207558","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-briefings","tag-business-economy","tag-domestic-politics"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Han Duck-soo pushes for swift 2025 budget execution amid fiscal uncertainty - KOREA PRO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/koreapro.org\/2024\/12\/han-duck-soo-pushes-for-swift-2025-budget-execution-amid-fiscal-uncertainty\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Han Duck-soo pushes for swift 2025 budget execution amid fiscal uncertainty - KOREA PRO\" \/>\n<meta property=\"og:description\" content=\"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. 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