[Key Points] Korea eyes record 800 trillion won budget to revive growth

Budget push: South Korea’s ruling bloc is pressing for a more expansionary 2027 budget, with total spending expected to exceed 800 trillion won ($577 billion) for the first time.

Growth over restraint: President Lee Jae Myung urged the government to move beyond a narrow focus on fiscal capacity and pursue a “productive” spending strategy to counter low growth.

Double-digit increase: Budget Planning Minister Park Hong-keun has said the 2027 budget will rise more than 10 percent from the initial 2