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Ryu Deok-hyun states the South Korean government's budget for next year will reach a record 821 trillion won.

The South Korean government has set its budget for next year at 821 trillion won, the largest in its history. The administration announced that this record-breaking figure is primarily driven by a surge in corporate taxes and improved tax conditions resulting from a semiconductor boom.

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Ryu Deok-hyun, a presidential financial planning adviser, stated that corporate taxes are expected to exceed 200 trillion won next year due to the specific strengths of the semiconductor industry. He noted that national tax revenue is projected to exceed 580 trillion won, with more than 400 trillion won coming in as a significant amount. Ryu Deok-hyun explained that the government will use these funds to purchase public goods necessary for the public. While the Bank of Korea has begun tightening monetary policy by raising interest rates, the government's fiscal policy is expanding. Ryu Deok-hyun noted that the government created a mechanism to report to the National Assembly as soon as demands arise regarding the Future Response Fund, which will be created with additional tax revenues from the semiconductor boom.

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