South Korea proposes budget with increased summit diplomacy and expressway funding

The South Korean government has submitted its budget proposal for the upcoming fiscal year to the National Assembly, revealing significant shifts in spending priorities.

In the Ministry of Foreign Affairs, budgets for North Korean denuclearization and international cooperation have been reduced. Specifically, funding for international cooperation to strengthen denuclearization efforts saw a 20% decrease, while budgets for establishing a peace structure on the Korean Peninsula and overseas cooperation for ethnic communities also declined by approximately 20%. Additionally, the budget for strengthening strategic special cooperative relations with North American countries was cut by 20.1%, including a 44.8% reduction in funds for deepening the comprehensive strategic alliance.

Conversely, the budget for summit and prime ministerial diplomacy is set to increase by 125.3%, rising to over 65 billion won. This surge is largely driven by a 52 billion won allocation for presidential overseas tours.

Separately, the budget proposal includes 3.416 billion won for the Seoul-Yangpyeong Expressway project. Representative Kim Sun-kyo noted that this follows previous years where funding for the project's survey and design was entirely cut, expressing relief that the project is being reconsidered after significant political controversy and investigations regarding its route.