South Korea's Cabinet approved a budget spending plan for 2019 Tuesday, and plans to spend more than 70 percent of the funds in the first half of the year to boost the economy.

Specifically, about 281-point-four trillion won out of a nearly 400 trillion won TOTAL budget is set to be spent in the first six months of next year. 

The Finance Ministry says up to 78 percent of a job creation budget will be spent in the first half to boost employment.

This is the first time since 2013 that more than 70 percent of the government's annual budget will be allocated in the first half of a year.