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News
S. Korea's fiscal balance improves through July: budget ministry
2+ day, 11+ hour ago (243+ words) SEOUL, Sept. 11 (Yonhap) -- South Korea's fiscal balance improved from a year earlier during the January-July period amid strong tax revenue growth driven by higher incomes and an increase in home transactions, the budget ministry said Friday. The managed fiscal balance,…...
Fitch, Moody's offer positive assessment of 2027 budget proposal: gov't
4+ day, 6+ hour ago (276+ words) SEOUL, Sept. 9 (Yonhap) -- Global credit appraisers have offered positive assessments of South Korea's 2027 budget proposal, the government said Wednesday, stressing overseas institutions have recognized Seoul's efforts to improve fiscal health and pursue long-term growth. South Korea's finance and budget ministries…...
Defense ministry seeks 8.2 pct budget increase for 2027 amid OPCON transition, forces reform push
1+ week, 5+ day ago (337+ words) SEOUL, Sept. 1 (Yonhap) -- The defense ministry said Tuesday it has proposed an 8.2 percent increase in the 2027 budget, seeking to accelerate its push for the transfer of wartime operational control (OPCON) from the United States, and modernizing forces and capabilities amid…...
Labor ministry seeks over 38 tln won in 2027 budget
1+ week, 5+ day ago (198+ words) SEOUL, Sept. 1 (Yonhap) -- The labor ministry said Tuesday it seeks more than 38 trillion won (US$27.7 billion) for next year's budget to bolster support for youth employment. The Cabinet approved allocating 38.95 trillion won for the labor ministry in 2027, up 3.4 percent from…...
Gov't proposes record 820.9 tln-won budget for 2027
1+ week, 5+ day ago (77+ words) en.yna.co.kr SEOUL, Sept. 1 (Yonhap) -- The budget minister on Tuesday proposed a record 820.9 trillion won (US$595 billion) budget for 2027. Budget Minister Park Hong-geun unveiled details of the proposal during a Cabinet meeting, with the amount marking a 12.8 percent…...
Tax revenue up 8.4 tln won in July on higher wages, brisk stock trading
1+ week, 6+ day ago (150+ words) SEJONG, Aug. 31 (Yonhap) -- South Korea's tax revenue rose by 8.4 trillion won (US$6 billion) in July from a year earlier on higher collections of income and securities transaction taxes, data showed Monday. The government collected 51 trillion won in taxes last month,…...
Finance minister attends parliamentary session
2+ week, 6+ day ago (59+ words) Yonhap News Agency Finance Minister Koo Yun-cheol, who serves concurrently as the deputy prime minister for economic affairs, speaks during a plenary session of the special committee on budget and accounts at the National Assembly in Seoul on Aug. 24, 2026, to…...
PM calls for prioritizing growth in fiscal policy
2+ week, 6+ day ago (199+ words) SEOUL, Aug. 24 (Yonhap) -- Prime Minister Han Seong-sook said Monday the government should focus on growth when it comes to fiscal policy, stressing that investment in growth-oriented areas is a key way to maintain fiscal health. Han made the remark during…...