Next Year's 'Super Budget' Set at 821 Trillion Won... 104 Trillion Won Kept as Reserves

[Anchor]

The government has unveiled next year's budget proposal. Standing at 809 trillion won, it is the largest scale ever, increasing by 12.8% compared to this year. With the growth rate also reaching an all-time high, it is literally a "super budget." This is thanks to the projection that tax revenues will increase by nearly 170 trillion won compared to this year due to the semiconductor boom. The government's plan is to intensively invest this increased budget into future industries, youth, and regional areas.

Let us look at the specific policies included, starting with a report by reporter Kim Beom-joo, and then we will hear directly from the Minister of Budget and Planning on whether the budget will be used properly.

[Reporter]

First, 43.3 trillion won, an increase of more than 50% compared to this year, will be poured into the youth sector.

A representative example is the "Our Child Independence Fund," which deposits up to 1.2 million won per year into fund accounts for children from families below a certain income level until they turn 18.

The calculation is that if up to 2 million won is accumulated every year for 19 years, including the money supported by parents, they can secure a seed money of 70 million won upon reaching adulthood.

1.7 trillion won will be injected into the Youth Future Savings, where the government pays 6% of the installment savings for those aged 19 to 34, and 2.1 trillion won will be put into the Military Tomorrow Preparation Savings supported for enlisted soldiers.

In addition, newlywed couples getting married will be paid 1 million won in cash, and upon giving birth, 10 million won will be provided for the first child and up to 20 million won for the third child or more.

[Cho Yong-beom / Vice Minister of Budget and Planning: While it is said that youth-friendly policies have been continued every year, they were increased in dribs and drabs, resulting in a low level of tangible impact. This time, let us single out youth policies and go all-out in a way that feels excessive and noticeable.]

41 trillion won will be allocated to fostering cutting-edge strategic industries to develop future growth engines, 21.3 trillion won separately to the semiconductor and artificial intelligence sectors, and 117.1 trillion won to support regional areas and vulnerable groups.

To back up these investments, the government plans to set aside 162 trillion won from excess tax revenues to newly create a Future Response Fund.

After spending 58 trillion won next year on youth and growth engine investments, the remaining 104 trillion won is planned to be kept as reserve funds in preparation for times when tax revenues fall short.

However, controversies are expected in the subsequent discussion process over whether this money might be used like the government's slush fund, and whether the increase in cash support constitutes populist administration.

(Video Editing: Kim Yoon-sung, Design: Lee Ga-jin)
※ Please note: This article was translated by AI and may contain errors.