Amid ongoing uncertainties regarding tariffs from the United States, the budget for trade responses and support for export corporations next year is set to increase to 4.3 trillion won, more than double this year's amount. In particular, 2.1 trillion won will be invested exclusively in core industries such as shipbuilding and semiconductors to support tariff negotiations with the U.S.
The budget for the cultural sector will increase to 5.7 trillion won, an increase of 1.5 trillion won compared to this year. The plan is to fully support the spread of K-culture, including video content, tourism, and food, to bolster Korea's rise as a global cultural power.
On the 29th, the government announced a support plan for 'super-innovative economy' through the '2026 budget' confirmed in a cabinet meeting.
◇ Trade response budget increases from 1.6 trillion won to 4.3 trillion won… 2.1 trillion won allocated for tariff negotiations
The government has earmarked a total budget of 4.3 trillion won for responding to trade issues and supporting export corporations next year. This marks an increase of 2.7 trillion won from this year's budget of 1.6 trillion won.
More than half of this, 2.1 trillion won, will be used to support tariff negotiations with the United States. A policy finance package worth 1.9 trillion won will be launched to ensure smooth cooperation in the shipbuilding and semiconductor industries, and 708 million won will be invested in establishing a Korea-U.S. technology cooperation center and enhancing the maintenance, repair, and operations (MRO) capabilities of small shipbuilders.
A voucher system will be established to support urgent needs, such as logistics costs, for corporations affected by tariffs. About 800 companies are expected to benefit. A special exemption on prepayment guarantees for small and medium-sized enterprises in the defense and shipbuilding sectors will apply in the amount of 200 billion won. The contributions to support funds for defense export corporations will also increase from 20 billion won to 30 billion won.
The budget for export support has increased by 600 billion won to 2.2 trillion won. The new 'K-Export Star 500' program aims to foster promising domestic companies into global export corporations by selecting 100 companies annually for support in marketing and research and development (R&D). The number of companies eligible for export vouchers will expand from 4,690 to 6,394, and the subjects for funding for overseas certifications and globalization will also respectively increase from 630 companies to 954 companies.
Additionally, material, parts, and equipment companies in high-tech strategic industries will receive investment subsidies (30-50% of the investment amount). The upper limit for support is set at 15 billion won per project and 20 billion won per corporation. Furthermore, to secure key minerals, overseas resource development loans will increase from 39 billion won this year to 71 billion won next year, and 3.8 billion won will be newly allocated for establishing resource recycling facilities and equipment.
◇ Investment of 5.7 trillion won for leap to cultural power… support for video content, tourism, and food
To advance as a global cultural power, the cultural budget has been expanded to 5.7 trillion won for next year, an increase of 1.5 trillion won compared to this year's budget of 4.2 trillion won.
A total of 1.8 trillion won will be invested in enhancing the spread of K-culture and strengthening exports. Policy financing will expand from 300 billion won to 500 billion won, and support for specialized genres, talent development, and artificial intelligence (AI) production will also be strengthened. Support for content production will increase the number of online video service (OTT) long dramas from 8 to 12 per year and mid-budget films from 9 to 18 per year. A specialized AI education program targeting 1,000 people is also planned.
In the arts sector, support for overseas expansion in musical theater and literature will be enhanced, along with efforts to create a stable creative environment. 3,000 young creators will receive annual activity funds of 9 million won, and a welfare fund for artists worth 5 billion won will be established. The living stabilization fund will increase from 18 billion won to 28 billion won.
The 'Global K-Culture Hub', which integrates overseas cultural institutions, will be expanded to solidify its presence in major cities around the world. The number of hubs will increase from the current 6 to 11. A new Korea Center in Vietnam will be built at a cost of 9 billion won, and 11 global promotional centers will also be established.
Support for industries related to the Korean Wave, such as tourism and food, will also be strengthened. A new K-Tourism Pass for foreign tourists will be introduced, and a system will be established to refund half of travel costs (up to 200,000 won) for visits to areas experiencing population decline. Two additional global tourism special districts will be designated.
In the food sector, the number of companies eligible for export vouchers will expand from 460 to 878, and the scale of loan support will increase from 600 billion won to 700 billion won. Additionally, local performances and exhibitions will increase threefold from 400 to 1,200. The youth cultural pass will also expand its genres, age groups, and subsidy amounts, significantly increasing opportunities to enjoy culture.