Ministry of Foreign Affairs / Yonhap
The foreign ministry said Thursday its 2025 budget was finalized at 4.28 trillion won ($2.98 billion), up 2 percent from this year.
The final amount, passed at the National Assembly, marks a decrease by 40.6 billion won from the initial proposal the ministry had made to parliament.
Of the amount, the official development assistance (ODA) takes up the biggest portion of 2.8 trillion won. The ODA budget has also been cut by 39.4 billion won, including the allotment for support for Ukraine.
It compares with this year’s ODA budget of 2.79 trillion won, a 39.2 percent increase from last year.
On Tuesday, the Assembly passed next year’s national budget of 673.3 trillion won as cut by the main opposition Democratic Party of Korea (DPK) amid resistance from the ruling party.
The DPK railroaded the downsized budget bill, cited by President Yoon Suk Yeol as a reason for invoking martial law last week. (Yonhap)
