South Korea has proposed a 26.2 trillion won supplementary budget for 2026 to address the ongoing Middle East conflict’s economic impacts.
Key measures include targeted support for vulnerable groups, energy security, and investment in startups and supply chains.
The budget is currently under review in the National Assembly, with rapid approval requested for timely implementation.
The Korean government has announced a comprehensive policy to support pharmaceutical and bio ventures through the 4UP strategy.
This initiative aims to address funding gaps, accelerate new drug development, and enhance global market competitiveness.
The policy was unveiled on March 24, 2024, and is now being implemented through joint ministerial collaboration.
South Korea has raised its resource security crisis alerts for oil and natural gas in response to the ongoing Middle East conflict.
The government upgraded oil from ‘Caution’ to ‘Warning’ and gas from ‘Interest’ to ‘Caution’, effective April 2.
Supply disruptions and volatility have prompted strengthened management and public sector measures.
South Korea has announced new measures to manage household debt and restrict mortgage extensions for multi-homeowners.
The government will limit household debt growth to 1.5% and prohibit mortgage maturity extensions in regulated areas.
These policies take effect from April 17, 2026, following a joint meeting of key financial agencies.
South Korea and Indonesia have established a Special Comprehensive Strategic Partnership.
This partnership includes 16 new MOUs covering trade, defense, technology, and cultural cooperation.
The agreement was formalized during a state visit on April 1, 2026.
South Korea is implementing policies to reduce private tutoring costs and strengthen public education.
Expanded after-school programs and targeted student support will be provided from 2027 to 2030.
The Ministry of Education announced these measures following a March 2025 survey analysis.