Kim Min-seok, leader of the Democratic Party, praised the '2027 budget proposal' approved at the Cabinet meeting on September 1, calling it a "bold investment that will lead South Korea's transformation while also ensuring fiscal soundness." He also announced plans to establish a legal foundation for completing the administrative capital in line with President Lee Jae-myung's intention to hold his retirement ceremony in Sejong.
During a Supreme Council meeting held at Sejong City Hall on September 2, Kim stated, "The government budget was approved at the Cabinet meeting yesterday. This is a bold investment that will lead South Korea's transformation and also guarantees fiscal soundness." He added that the budget includes strategic allocations for three major mega projects, a future response fund, and self-defense initiatives, as well as a budget aimed at balanced regional development and enhanced support for citizens throughout their life cycles.
Kim emphasized that as the ruling party, they will ensure the 2027 budget has a tangible impact on the economy for the public.
He noted, "While South Korea's economic growth rate has rebounded and exports surpassed $100 billion for the first time in June, the macroeconomy is recovering, but it has not yet reached the public's perception of the economy. The government and the ruling party feel a heavy sense of responsibility in this regard."
He continued, "Based on this budget, we will ensure that the recovery of the macroeconomy translates into a tangible impact on the people's economy, and we will work to ensure that the benefits of growth are shared among all citizens during the National Assembly review process."
Additionally, Kim expressed his intention to support the Lee Jae-myung administration's goal of completing the administrative capital through legislative activities in the National Assembly.
He stated, "Completing the administrative capital in Sejong is the 50th national task of the Lee Jae-myung government. Since the President has said he will hold his retirement ceremony in Sejong, we will work to complete the legal foundation for the administrative capital in the National Assembly."
* This article has been translated by AI.
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