South Korean President Lee Jae Myung on Monday urged lawmakers to approve his government’s $610.9 billion (820.9 trillion won) budget for 2027, arguing that the country’s strong economic recovery must translate into better living standards and more widely shared opportunities. In his National Assembly address, Lee acknowledged that many households, young workers and regional economies continued to struggle despite strong national growth, emphasizing three major initiatives covering employment, household finance and housing.

The budget, which raises spending 12.8%, establishes a $120.8 billion (162.3 trillion won) Future Response Fund to channel exceptional tax revenue into strategic investments while retaining