The government plans to execute 75 percent of the 2024 budget in the first half of the year to revitalize the economy. That’s roughly 412-and-a-half trillion won. 

The finance ministry said the plan was confirmed during a Cabinet Meeting on Tuesday. 

The government has steadily increased the rate of executing the budget in the first half since 2019 when it spent 70-point-four percent of the budget in the first six months of the year. In 2020, the execution rate was 71-point-four percent and in 2022, 73 percent. 

The finance ministry said the planned spending will focus on helping the socially vulnerable, including low-income families and small business owners as well as on investment toward creating good quality jobs in the private sector.