Seoul: President Lee Jae Myung is set to deliver a budget speech this week to outline the government's spending plan for the coming year, as announced by the presidential office on Monday. In his address on Tuesday, Lee is expected to call for bipartisan support to ensure the smooth passage of the 2026 budget bill.

According to Yonhap News Agency, the government has proposed a historic budget of 728 trillion won (approximately US$508.4 billion) for next year, marking an 8.1 percent increase from the current year. This substantial budget underscores Lee's commitment to an expansionary fiscal policy aimed at revitalizing sluggish domestic demand and promoting the development of advanced technologies, such as artificial intelligence, in the face of escalating global trade uncertainties.

The legal deadline for passing next year's budget is December 2. This upcoming speech will be President Lee's second budget address, following his presentation of a supplementary budget in June.