Seoul: The finance ministry announced Tuesday plans to allocate 75 percent of next year's state budget in the first half of the year to stimulate innovation and support economic recovery. The decision is part of a broader strategy to boost economic activities and address pressing national priorities effectively.

According to Yonhap News Agency, the Cabinet has approved a plan to disburse 468.3 trillion won (US$318.26 billion) out of a total annual spending of 624.8 trillion won during the January-June period. This substantial expenditure will cover both general and special accounts, though it will not extend to government funds.

The Ministry of Economy and Finance emphasized that the budget allocation will concentrate on fostering a technology-driven "ultra-innovation" economy. Additionally, there is a commitment to fortifying the social safety framework, enhancing public safety, and advancing diplomatic and security measures that prioritize national interests.

The government has consistently maintained a first-half budget allocation ratio of 75 percent since 2023, underscoring its commitment to proactive fiscal management and economic revitalization.