Home Business South Korea reached an agreement on the 2021 budget, amounting to 558 trillion won.
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South Korea reached an agreement on the 2021 budget, amounting to 558 trillion won.

by YCPress

December 2 According to a report by South Korea Radio International (KBS), on December 1 local time, the South Korean government and the opposition reached an agreement on the 2021 budget, with a total budget of 558 trillion won (about 3.31 trillion yuan).

According to reports, the original budget of the South Korean government for 2021 reached 556 trillion won, but the government and the opposition agreed to increase by 7.5 trillion won after cutting 5.3 trillion won from the government budget. As a result, the total budget increased by 2.2 trillion won from 556 trillion won to 558 trillion. Korean won. The ruling and opposition also basically determined to raise the net increase in the budget by issuing treasury bonds according to the requirements of the ruling party.

The 2021 budget includes the third round of disaster support budget, which is optionally provided, with a size of 3 trillion won. Asano also agreed to increase the purchase budget for the coronavirus vaccine from the original 320 billion won and 900 billion won to ensure 44 million doses of vaccine.

In addition, the budget also increases the budget required for the population’s residential stability policy, the carbon neutral goal for 2050, and the expansion of child care and care that is not included in the original government plan.

If the plenary session of the National Assembly of South Korea on December 2nd adopts the above-mentioned budget, it will be the first time that the New Year’s budget has been passed within the statutory time limit for budget approval after six years since the National Assembly introduced the Advancedization Act in 2014.