Anchor: The Cabinet approved a 2025 budget of 677-point-four trillion won, or about 509 billion U.S. dollars, representing a three-point-two percent increase over this year’s budget.
Yun So-hyang has this report. 

Report: The government has proposed a budget worth 677-point-four trillion won, or about 509 billion U.S. dollars, for next year, representing a three-point-two percent increase over this year.

The budget plan was approved during a Cabinet meeting on Tuesday, and it is expected to be submitted to the National Assembly in early September.

While the budget increased more sharply this year than last year, when it grew two-point-eight percent, the figure remained below four percent for the second consecutive year as the government seeks to reinforce the nation's financial sustainability post-pandemic.

The budget for research and development, which saw drastic cuts this year, increased by the biggest margin of eleven-point-eight percent year over year to 29-point-seven trillion won.

The government allocated 249 trillion won for health, welfare and employment programs, representing a four-point-eight percent increase over this year. Basic living wages for four-person households will rise 118-thousand won on-year, while one-point-one million jobs will be offered to seniors.

Nineteen-point-seven trillion won has been earmarked for tackling the country's low birth rate, including an expansion of the maximum monthly maternity and paternity leave allowances to two-point-five million won.

The defense budget will surpass 60 trillion won for the first time, reflecting increases in the salaries of military personnel by around two-point-five times from 2022.

The budget plan is set to be finalized in December after deliberations and adjustments by parliamentary committees.
Yun So-hyang, KBS World Radio News.