Next year's budget is expected to focus on revitalizing the flagging domestic economy... and the finance ministry has given a guideline for the ministries to use.... when they make their budget requests for the year 2020.<br />Our Ko Roon-hee reports.<br />Improving economic vitality and strengthening South Korea's social safety net. <br />These are two of the government's main plans when implementing the budget for next year.<br />In a Cabinet meeting chaired by finance chief Hong Nam-ki on Tuesday, the government approved the guideline of budget compilation and fund management for 2020.<br />The guideline will be notified to ministries on Friday.<br />Ministries will then have time to look over it and submit their budget requests by May 31st. <br />First and foremost, the government is focused on revitalizing the economy.<br />One way to do that is supporting exports...because South Korea's economy relies heavily on overseas markets. <br />This comes amid growing uncertainties in the global economy...and South Korea's outbound shipments declining on-year for three consecutive months. <br />Other than exports, the government plans to support more projects like the so-called 'Gwangju-type job model' and increase investment in infrastructure. <br />Minister Hong also said next year's budget should focus on creating a stronger social safety net.<br />Details include ways to support people in the low-income bracket and vulnerable social groups...such as helping them with school expenses.<br />Other guidelines include supporting new industries such as Artificial Intelligence and 5G networks....and coming up with ways to reduce fine dust levels in South Korea.<br />Ko Roon-hee, Arirang News. <br />
