Politics · South Korea · 21 mins ago
Lawmakers seek 25 trillion won more from South Korea’s future fund
Six South Korean parliamentary committees requested 25.48 trillion won in extra spending from the Future Response Fund, which totals 162 trillion won.
The requests cover 54 projects and include cash support for young people and rural residents, as well as local infrastructure.
The government plans to use the fund for future-focused investment, support for young people and regions, and reducing new bond issuance.
Critics warn that recurring aid and local projects could strain public finances when extra tax revenue falls after 2028.
Some lawmakers have also questioned whether the fund could be used for politically popular spending ahead of the 2028 general election.
The opposition People Power Party ordered its committees to withdraw all requests for increases tied to the fund, while saying it wants the fund cut entirely.
A parliamentary budget committee will review the requests with the government before the budget is finalized.
Six South Korean parliamentary committees requested an additional 25.4838 trillion won for 54 projects under the 162 trillion won Future Response Fund.
Many requests concern cash support and local infrastructure, prompting concerns that the fund could be used for politically popular spending.
The government’s plan assigns 45 trillion won to young people and regions, 12 trillion won to reducing new bond issuance and 105 trillion won to future needs.
The People Power Party called for all requested increases to be withdrawn and has advocated cutting the fund in full.
Some lawmakers have warned that expanding ongoing programs could worsen fiscal pressures after excess tax revenue declines.
- Who
- Six parliamentary committees requested the increases. The People Power Party opposed them.
- What
- The committees sought 25.4838 trillion won more for 54 Future Response Fund projects.
- When
- The requests were reported on November 13, 2026, during review of the next year’s government budget.
- Where
- South Korea’s National Assembly.
- Why
- The committees sought to expand programs under their remit, including cash support and local projects.
Six committees seeking fund increases
People Power Party
Fund spending
Six committees seeking fund increases
The committees requested 25.4838 trillion won more for 54 projects, including cash-support and local infrastructure programs.
People Power Party
The party says the fund should be cut in full and ordered lawmakers to withdraw all requests for increases.
Fiscal policy
Six committees seeking fund increases
The requests would expand programs the committees oversee.
People Power Party
The party says the fund can be used by the government without adequate parliamentary control and should be reduced.
President Lee Jae-myung visited Cheongsong and Yeongyang counties and commented on the rural basic income program.
The People Power Party leader directed committees to withdraw all requests for increases to the Future Response Fund.
Six committees’ requests for increases totaled 25.4838 trillion won across 54 projects, according to Donga Ilbo’s review.
The budget adjustment subcommittee was due to begin work, with the People Power Party setting out its proposed budget-review principles.
- Fund size
- 162 trillion won
- Requested increase
- 25.4838 trillion won
- Projects seeking increases
- 54
- Committees seeking increases
- 6
- Government plan for young people and regions
- 45 trillion won
- Government plan for future needs
- 105 trillion won
4 sources
What people are saying
Next week, we will enter the budget adjustment subcommittee with three principles: a full reduction of the Future Response Fund, restoration of local grants, and focused cuts to 100 problematic projects, while reflecting livelihood-related budgets.
The Lee Jae-myung government has created a permanent supplementary budget and a fake reserve fund that it can change at will by up to 30 percent without parliamentary approval, even after the National Assembly approves it.
If the rural basic income program continues permanently, many more people will come to the region.