Seoul, Nov 27 (IANS) South Korean President Lee Jae Myung on Thursday called for bipartisan cooperation to pass next year’s budget plan within the legal deadline, stressing its importance in boosting the domestic economy.
Lee issued the call during a meeting with senior aides as the National Assembly is in the final stages of reviewing the 2026 budget plan, which proposes 728 trillion won (USD 498 billion) in spending, up 8.1 per cent from this year, Yonhap News Agency reported.
Although the legal deadline for passage is December 2, parliament has frequently missed it in past years due to political wrangling between rival parties.
“In order to boost the economic recovery and support the nation’s major leap forward next year, it is especially important that the budget be passed on time,” he said. “I urge bipartisan cooperation so that the budget can be passed within the legal deadline.”
Lee called for a flexible approach during the ongoing budget deliberations, saying the government should be open to accepting the opposition’s proposals if they are reasonable and necessary.
“If opposition parties’ arguments carry substantial merit, it would be a good approach to accept them boldly, as long as they do not create serious issues,” he said.
In his first meeting with aides since returning from a four-nation trip to the Middle East and Africa, Lee emphasised the need for bipartisan support in pursuing his “pragmatic” diplomacy amid shifting global dynamics and rising protectionism.
“Most heads of state expressed strong interest in the defence industry, including the acquisition of new weapons systems and expansion of the defence cooperation with the Republic of Korea,” he said, referring to South Korea’s official name. “It is essential to bolster national power, which encompasses economic strength, overall military capacity and the defence industry capabilities.”
–IANS
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