The Democratic Party of Korea has kicked off the drafting of the 2027 budget bill. Next year's budget bill is expected to be drawn up in the 800 trillion won range, the largest ever. The Democratic Party said it would concentrate resources on the three mega projects and the future response fund.
Floor leader Han Byeong-do of the Democratic Party said at a floor countermeasures meeting held at the National Assembly on the morning of the 21st that "the Democratic Party and the Ministry of Planning and Budget held a party-government consultation and discussed the direction for drafting the 2027 budget bill totaling 800 trillion won." Before the meeting that day, the party and government held a consultation to discuss the direction for drafting next year's budget bill.
Han said, "We are on the verge of an era of $40,000 in national income. Now is the time to firmly secure a super-gap in semiconductors and focus the nation's capabilities on the three mega projects," adding, "Also, next year's budget is a growth-oriented, future-oriented budget that invests in youth, regions, and education through the future response fund."
He added, "The People Power Party is branding this budget as 'fiscal gambling' and is tripping it up even before it starts," and said, "The Democratic Party will take the lead on the path to building an 'irreplaceable Korea' with 3% potential growth, top four in global trade, and $50,000 in national income."
Han Jeong-ae, the party's policy committee chair, said, "The government and the ruling party will ensure that economic gains are not concentrated in some corporations or some classes, but flow through employment and domestic demand overall to create a virtuous cycle," and emphasized, "We will actively inject fiscal resources to respond to issues such as region-led growth and the K-shaped polarization problem so that growth felt by the public is solid and shared by all."
Last month, the government announced the "three mega projects" that will channel massive investment into semiconductors, physical artificial intelligence (AI), and AI data centers. It also plans to create a "future response fund" that will use excess semiconductor tax revenue to support the younger generation and regions.