Finance Minister Hong Nam-ki said on Wednesday that 62 percent of the state budget will be implemented in the first half of this year in efforts to revitalize the economy.

In a meeting with economy-related ministers, Hong said that in particular, the government will spend 37 percent of the budget on job creation in the first quarter.

The national budget for fiscal year 2020 is 512-point-three trillion won, South Korea's largest ever.

Hong said in opening remarks at the meeting that the government will do its best to swiftly implement budget spending to support the economy.

The minister said that the government will also monitor and ensure timely execution of the welfare budget, including support for low-income households and children.