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S. Korean Gov't Seeks 7% Budget Hike for Next Year
Source: english.chosun.com
Source Date: Monday, July 05, 2010
Country: Korea (Republic of)
Created: Jul 12, 2010

Government ministries have requested an increase in next year's budget of W313 trillion (US$1=W1,209), a nearly 7 percent jump from this year's budget.

The Ministry of Strategy and Finance says it will consider the feasibility of the request and submit its final proposal for the 2011 budget to the National Assembly in October.

Among the 50 government ministries and agencies, those related to foreign and unification affairs sought the biggest budget increase of 11.8 percent or a combined W3.7 trillion. Funding requests for R&D were next with a 10.8 percent or W15.2 trillion increase.

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