Lee to deliver budget speech Tuesday to outline next year's spending plan

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Published: 03 Nov. 2025, 11:29 Updated: 03 Nov. 2025, 19:12

President Lee Jae Myung delivers remarks during an official luncheon with Singaporean officials at the presidential office in Yongsan District, central Seoul, on Nov. 2. [YONHAP]

President Lee Jae Myung will deliver a budget speech this week to outline the government's spending for next year, the presidential office said Monday.

Lee is scheduled to make the speech on the 2026 budget bill Tuesday, during which he is expected to ask for bipartisan cooperation for its passage.

The government has proposed a record high budget of 728 trillion won ($508.4 billion) for next year, up 8.1 percent from this year.

Lee has signaled an expansionary fiscal policy aimed at boosting sluggish domestic demand and fostering advanced technologies, including artificial intelligence, amid growing global trade uncertainties.

The legal deadline for the passage of next year's budget is Dec. 2.

It will mark his second budget speech, following one in June when he presented a supplementary budget.

Yonhap