Assembly Clears 2026 Budget Before Deadline, Korea's First on-Time Passage in 5 Years

Assembly clears 2026 budget before deadline, Korea's first on-time passage in 5 years

The National Assembly on Tuesday passed next year's budget of 727.9 trillion won ($498 billion) that calls for more spending to prop up the economy...

South Korea parliament clears 2026 budget to power AI-led growth

South Korea’s parliament approved a 727.9 trillion won (S$642.4 billion) budget for next year on Tuesday (Dec 2), endorsing President Lee Jae-myung’s sweeping plan to revive the economy throug...

South Korea hikes corporate and education tax to fund $495B budget for 2026

The ruling Democratic Party (DP) and the main opposition People Power Party (PPP) agreed Tuesday to pass the 2026 budget of approximately $495.8 billion (728 trillion won) by the legal deadline, marking the first on-time passage since 2020. The deal secures the launch of President Lee Jae-myung’s signature “National Growth Fund” — a $102.1 billion […]

National Assembly passes 727.9 trillion won budget for next year in 11th-hour consensus

The National Assembly passed next year's budget of 727.9 trillion won ($496 billion) late Tuesday, meeting the legal deadline for the first time in five years after rival parties struck an 11th-hour deal.