The South Korean Foreign Ministry announced on September 1 that it has submitted a budget proposal of 3.7033 trillion won to the National Assembly, an increase of 88.1 billion won compared to this year's budget of 3.6152 trillion won.
In a press release, the ministry stated, "We will expand investment in key projects to realize 'Irreplaceable South Korea, a Diplomatic Power that the World Seeks'" and emphasized its commitment to actively implement practical diplomacy centered on national interests, including the expansion of K-initiatives.
The ministry also noted that South Korea will assume the presidency of the 2028 G20 Summit, the highest forum for international economic cooperation, and aims to lead global economic discussions and demonstrate leadership as a responsible global power through thorough preparations for the event. A new budget of 2.3 billion won has been allocated for preparations for the 2028 G20 presidency.
Additionally, the budget increases include contributions to international organizations (from 698.4 billion won to 754.1 billion won), strengthening public cultural diplomacy (from 25.6 billion won to 29.8 billion won), dispatching local youth talent to overseas missions (from 900 million won to 1.5 billion won), maintenance and management of overseas mission facilities (from 6.1 billion won to 9.7 billion won), and building and operating information security and diplomatic information systems (from 11.6 billion won to 26.2 billion won), as well as cybersecurity (from 3.8 billion won to 15.5 billion won).
New budget allocations also include 1.5 billion won for enhancing AI diplomacy, 3.9 billion won for facility upgrades and fire preparedness, and 3.8 billion won for hosting the 49th Antarctic Treaty Consultative Meeting and the 29th Environmental Protection Committee in 2027.
In this regard, the Foreign Ministry stated, "We will do our utmost to ensure that the 2027 budget proposal proceeds smoothly through the National Assembly's review."
* This article has been translated by AI.
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