Market Update: Budget Ministry starts early planning for 2027 state budget – Full Analysis

Ministry of Economy and Finance logo [MINISTRY OF ECONOMY AND FINANCE]

The Ministry of Planning and Budget said Thursday it has begun early preparations for the state budget of 2027 to ensure the Lee Jae Myung administration’s policy priorities are thoroughly prepared for next year.
 
“Departing from the conventional practice of concentrating budget planning between June and August, we have started the process as early as January to strengthen strategic allocation of resources,” said Lim Ki-geun, a senior ministry official in charge of budget planning.
 
 
According to the newly established ministry, next year’s budget will focus on selecting core agenda items aligned with government policy goals and directing investments toward them.
 
The ministry also emphasized the importance of identifying new projects and agenda items, expanding public participation and involving civil society in the budget planning.
 
Under a government reorganization that began this year, the finance ministry was divided into the Ministry of Economy and Finance and the newly established ministry, which has been placed under the Prime Minister’s Office to take over the government’s budget planning functions.

Yonhap