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Lee Administration Maps Out Trillion-Won Budget Rollout and Policy Agenda

Officials aim to deploy 85 percent of the supplementary budget by September to rein in food-price inflation

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President Lee Jae Myung (C) presides over a Cabinet meeting held at the presidential office in Seoul on July 8, 2025. (Pool photo) (Yonhap)
President Lee Jae Myung (L) shakes hands with Prime Minister Kim Min-seok after presenting him with a certificate of appointment during a ceremony held at the presidential office in Seoul on July 4, 2025. (Pool photo) (Yonhap)
This photo provided by the presidential office on July 7, 2025, shows President Lee Jae Myung during a meeting with newly inaugurated Prime Minister Kim Min-seok in Seoul. (PHOTO NOT FOR SALE) (Yonhap)

Overview

  • A July 6 high-level forum between the Democratic Party and Lee’s government was launched to align on national priorities
  • The Cabinet-approved extra budget of 31.8 trillion won will see 85 percent spent by end-September to accelerate economic relief
  • Officials pledged to rein in processed-food price inflation after June’s 4.6 percent year-on-year rise and to engage industry on price controls
  • The coordination meeting also outlined measures to bolster preparedness and response for heat waves, floods and storms this summer
  • Prime Minister Kim Min-seok has begun healthcare reform talks at Lee’s request to resolve the medical school quota dispute and his cabinet picks face confirmation hearings from July 14