Policy Address President Lee Says "Growth for All, Not the Few"…Requests National Assembly Cooperation on 821 Trillion Won Budget Plan

President Lee Jae-myung delivered a policy address on the 2027 government budget plan and fund management plan at the National Assembly plenary session on November 2.

In his address, President Lee pointed out that "the shadow of inequality and polarization persists" and announced a major transformation from "growth of the few" where results concentrate on specific classes and businesses, to "growth for all" where all citizens and regions share opportunities for growth.

This address marks the fourth policy speech since the Lee Jae-myung administration's launch, focusing on explaining the background of next year's budget plan at 820.9 trillion won (approximately 821 trillion won) and requesting National Assembly cooperation.

President Lee emphasized the importance of timely fiscal execution for stabilizing people's livelihoods, technological innovation, and reducing polarization. Next year's budget plan was compiled at 820.9 trillion won, a 12.8% increase compared to this year.

The government decided to establish a 162.3 trillion won-scale "Future Response Fund" utilizing surplus tax revenue from strong semiconductor export performance. Of the fund, 45.4 trillion won will be executed for youth support, securing AI and future growth engines, and local balanced development projects, while the remaining 104 trillion won will be set aside as reserve funds for future fiscal demands and managed accordingly.

The ruling and opposition parties showed conflicting positions on the budget scale and fund nature. The Democratic Party argues that 821 trillion won investment is inevitable to prevent economic downturn and secure growth engines, while the People Power Party demands a 30 trillion won reduction and full allocation of the 104 trillion won reserve funds to government bond repayment, characterizing the large budget as "borrowing before the harvest."

The National Assembly's Special Committee on Budget and Accounts will begin comprehensive policy questioning starting on November 4, followed by departmental reviews and increase/decrease amount examinations. The government and ruling party emphasize the principle of processing within the constitutional legal deadline of December 2, but the confrontation over key issues with the opposition party suggests prolonged negotiations ahead before final settlement.