Ministry of Planning and Budget

[2026-01-26]President Lee Jae-myung Withdraws Nomination of Budget Minister Candidate Lee Hye-hoon

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President Lee Jae-myung has decided to withdraw the nomination of Lee Hye-hoon as Minister of Budget and Planning.
Despite serving three terms as a lawmaker for a conservative party, Lee Hye-hoon did not meet public expectations.
President Lee emphasized continued efforts toward national unity through inclusive appointments.

[2026-01-14]Korea Establishes Permanent R&D Budget Council to Boost Efficiency

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The Ministry of Economy and Finance and the Ministry of Science and ICT will permanently operate an R&D budget council starting this year.
Of the total 2024 R&D budget of KRW 35.5 trillion, 85.3% (KRW 30.5 trillion) is allocated to major R&D projects.
Both ministries aim to enhance expertise and financial efficiency through strengthened cooperation, applying these improvements from next year”s budget process.