The government has earmarked one-point-one trillion won for next year's inter-Korean cooperation fund in order to facilitate the implementation of the Panmunjeom Declaration produced at the inter-Korean summit in April. 

The government announced its budget plan for 2019 on Tuesday, which includes a 14 percent increase in the inter-Korean cooperation fund. As a result, the fund will bounce back to the one-trillion won level for the first time in three years since 2016. 

Roughly 500-billion won has been allocated for the modernization of railways and roads in North Korea and other cross-border economic cooperation projects, as stipulated in the Panmunjeom Declaration. The amount is up 46 percent or 160 billion won from this year's spending. 

The government plans to promote inter-Korean projects that may be affected by sanctions on Pyongyang in sync with progress in talks on the North’s denuclearization. 

It has also allotted 33-point-six billion won in preparation for greater reunions and exchanges by war-separated families, or nearly triple this year's 12 billion won.