President Lee Jae-myung presided over the State Council meeting at the Blue House on June 1, 2026, to deliberate and approve the government's budget proposal for 2027. ^[1] President Lee Jae-myung stated on February 2 that expanding welfare and economic growth simultaneously is an ideal but unrealistic goal in the current context. ^[2] The State Council approved the next year's budget of 820.9 trillion won, which is 12.8% higher than the current year's budget. ^[3] Ryu Deok-hyun, a financial planning aide at the Blue House, stated that corporate taxes for the next year are expected to exceed 200 trillion won due to the semiconductor industry boom. ^[4] The South Korean government has planned a record-breaking budget of approximately 821 trillion won for the upcoming year. ^[5] On April 2, 2026, the South Korean won fell against the US dollar to close at 1,368.7 won per dollar, down 1.7 won from the previous week's closing rate. ^[6] Ryu Deok-hyun explained that the projected corporate tax revenue of over 200 trillion won is a primary factor reflected in the budget's scale. ^[7] The National Tax Service is expected to collect over 580 trillion won in national tax revenue next year. ^[8]