[President Yoon's National Tasks] 110 New Government Blueprints... Securing 209 Trillion Won in Funding Is Key

Inauguration Committee Announces 6 Major Directions... Yoon: "We Will Build a Nation Where All Citizens Prosper Together"

On the morning of the 3rd, Yoon Suk-yeol, the president-elect of the 20th presidential election, received the national agenda prepared by the transition committee from Ahn Cheol-soo, the chairman of the transition committee, at the plenary meeting held at the Presidential Transition Committee in Samcheong-dong, Jongno-gu, Seoul. Photo by Transition Committee Press Corps

[Asia Economy Reporter Baek Kyunghwan] The Yoon Suk-yeol administration has unveiled 110 national tasks to be carried out over the next five years. The budget required to implement these national tasks has been tentatively set at 209 trillion won. This amount is somewhat lower than the 266 trillion won estimated by the People Power Party and other internal and external organizations during the last presidential election period to fulfill President-elect Yoon Suk-yeol's 200 national pledges. However, with the national debt exceeding 1,000 trillion won, how to secure more than 200 trillion won in funding remains a key issue.

On the 3rd, Ahn Cheol-soo, chairman of the Presidential Transition Committee, announced the "110 Major National Tasks of the Yoon Suk-yeol Government" at a press conference held at the Presidential Transition Committee office in Tongui-dong, Seoul. Chairman Ahn stated, "Over the past 47 days, we have grasped the current state of national affairs through ministry briefings, field visits by each division, and policy meetings," adding, "Based on the president-elect's pledges, we selected the national tasks after in-depth discussions."

On the same day, Chairman Ahn revealed for the first time the budget scale required for the Yoon administration's national tasks. He said, "It is estimated that approximately 209 trillion won in additional funds will be needed compared to the 2022 budget." By the five major national goals, the budget allocation is expected to be ▲54 trillion won for "A Decent Nation Where Common Sense is Restored," ▲13 trillion won for "A Dynamic Economy Led by the Private Sector and Supported by the Government," ▲65 trillion won for "Warm Companionship, A Nation Where Everyone is Happy," ▲61 trillion won for "A Bold Future Created Through Autonomy and Creativity," and ▲16 trillion won for "A Global Hub Nation Contributing to Freedom, Peace, and Prosperity."

However, the new government plans to establish a "Pan-Ministerial Performance Management System" to enforce binding fiscal management. This decision comes from the judgment that fiscal operations have reached their limits due to the expansionary fiscal policies implemented during the current government's five-year term. With the establishment of a fiscal performance management system, fiscal soundness is expected to become the top priority in the budget formulation process.

President-elect Yoon stated, "The situation facing the new government and the domestic and international conditions are not easy," adding, "Although our economy is facing very difficult circumstances, we will build a Korea that takes off again based on national tasks and a nation where all citizens live well together."