Ruling and Opposition Parties Agree on Next Year’s Budget Review Schedule... Budget Subcommittee Set for November 17

The ruling and opposition parties agreed on the schedule for the Special Committee on Budget and Accounts to review next year’s budget bill on October 22.

Koo Yoon-chul, Deputy Prime Minister and Minister of Strategy and Finance, is speaking at the plenary meeting of the Special Committee on Budget and Accounts held at the National Assembly on August 25, 2025. Photo by Kim Hyun-min

The Special Committee will begin with a public hearing on the budget bill on November 5, followed by comprehensive policy inquiries on November 6 and 7.

On November 10 and 11, the committee plans to review the economic ministries, and on November 12 and 13, it will review the non-economic ministries.

From November 17, the Budget Adjustment Subcommittee will begin a full-scale review of proposed increases and decreases in next year’s budget. After passing the subcommittee’s resolution, the full committee will vote on the final budget bill for next year.

Although the legal deadline for the National Assembly to pass the new year’s budget bill is December 12 each year, there are concerns that, as this is the first budget review since the inauguration of the Lee Jaemyung administration, the confrontation between the parties may make it difficult to meet the deadline.

The opposition party is expected to criticize government spending on programs such as the National Growth Fund and regional gift certificates as “reckless handouts” and mount an offensive.

This content was produced with the assistance of AI translation services.