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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

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