Focus on financial support for low-income individuals and youth… Financial Services Commission allocates a budget of 4 trillion 2408 billion won for next year.

Increased by 237.8 billion won compared to this year… Up by 6%
New Start Fund of 170 billion won, newly allocated 280 billion won for semiconductor support,

[Image Source=Yonhap News],
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, ‘The Financial Services Commission has allocated a budget of approximately 4.24 trillion won for 2025, which is an increase of 237.8 billion won (5.94%) compared to this year. The budget prioritizes support for financial assistance to low-income and vulnerable groups, youth asset formation, and regional economic revitalization to secure future growth drivers.’,
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, ‘On the 9th, the Financial Services Commission announced that it increased the general account expenditure budget for next year to 4.24 trillion won, up by 237.8 billion won (5.94%) compared to this year. The budget has increased the New Start Fund budget from 3.3 trillion won this year to 5 trillion won next year, a 1.7 trillion won increase. Additionally, the commission has allocated 2.8 trillion won for new semiconductor equipment investment support programs and the semiconductor ecosystem fund.’,
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, ‘Key budget items for financial support to low-income individuals, small business owners, and vulnerable groups include the Small Business and Self-Employed Debt Restructuring Program (New Start Fund), Hwaksalloan 15, special guarantees for low-credit borrowers, and support for debt counselors. To provide more comprehensive support to struggling small business owners and self-employed individuals, 5 trillion won has been allocated to ensure the smooth implementation of the expanded New Start Fund announced through the Small Business and Self-Employed Comprehensive Measures.’,
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, ‘A budget of 90 billion won has been allocated for Hwaksalloan 15, a financial product for low-credit and low-income individuals. The Financial Services Commission and the Korea Credit Guarantee Fund plan to supply a total of 6.5 trillion won next year based on this budget. For the special guarantee product for the lowest 10% of credit score individuals who have difficulty accessing financial services, 5.6 billion won has been allocated, with plans to provide a total of 17 billion won annually.’,
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, ‘Furthermore, the Financial Services Commission and the Korea Credit Guarantee Fund have allocated 37.5 billion won for the Youth Asset Building Account to enable young people to steadily accumulate assets through the account. The Youth Asset Building Account will continue to accept new registrations monthly next year, with participants receiving government contributions in addition to bank interest on their deposited amounts and enjoying tax benefits on interest income from the account.’,
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, ‘A budget of 10 billion won has been allocated to establish a Regional Revitalization Investment Fund based on government, local government, and private sector cooperation to respond to regional depopulation and support local economic revitalization. Through the Regional Revitalization Investment Fund, the Financial Services Commission aims to facilitate private sector investment and support a variety of regional revitalization projects in collaboration with local governments and the private sector.’,
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, ‘Allocation of 28 billion won to secure future growth drivers such as semiconductor ecosystem support
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, ‘Key budget items for securing future growth drivers include special programs for semiconductor equipment investment support, the semiconductor ecosystem fund, innovation growth funds, and fin-tech support. The Financial Services Commission has allocated 28 billion won in funds for the “Comprehensive Support Plan for the Semiconductor Ecosystem” jointly announced by relevant ministries in June. The next year’s budget includes 250 billion won for the Industrial Bank’s program for lending to advanced industries like semiconductors. Companies in all areas of the semiconductor industry planning to make new investments in facilities, R&D, and capital can receive funds at the minimum national bond rate.’,
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, ‘For companies in the semiconductor materials, parts, and equipment sectors, as well as fabs companies aiming for scale-up and mergers and acquisitions (M&A), 30 billion won has been allocated for the semiconductor ecosystem fund project. The Financial Services Commission expects to strengthen the competitiveness of the entire semiconductor ecosystem, from small and medium-sized enterprises in the semiconductor field through this newly established fund of 120 billion won, which includes a budget of 30 billion won from next year’s finances, 30 billion won from the Industrial Bank, and 60 billion won from private funds.’,
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, ‘A budget of 20 billion won has been allocated to support the fostering of innovative industries and to supply growth funds to small and medium-sized enterprises and ventures. Based on this budget, the Financial Services Commission plans to create a 3 trillion won innovation growth fund. The commission plans to utilize 20 billion won initially and utilize 10 billion won from funds where previous budgets were invested and then recovered for efficient use, as well as 60 billion won from the Industrial Bank to provide a total of 90 billion won.’,
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, ‘The Financial Services Commission explained, “Through the 2025 budget, we will thoroughly explain the necessity of the budget during the parliamentary review process to ensure robust financial support for low-income individuals and youth and to support securing future growth drivers.”‘,
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