President Lee presents a 2027 budget of 820.9 trillion won to the National Assembly

2 November 2026

President Lee Jae Myung delivered a policy speech on the 2027 budget bill at the National Assembly in Seoul's Yeongdeungpo district.
The proposed budget is KRW 820.9 trillion, 12.8% more than this year.
He called for a shift from 'growth for the few' to 'growth for all', with more support for regions outside the Seoul metropolitan area.
The government said it abolished about 2,100 programmes and restructured 6,476 others, an adjustment worth KRW 107.2 trillion.
It also turned 17 tax-expenditure items, including marriage and childbirth tax credits worth KRW 1.9 trillion, into direct spending.
The National Assembly now reviews the bill before passing it.