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Wednesday, November 4, 2026 · Morning
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Wednesday, November 4, 2026 · Morning · Politics 3 pages
Front page · Politics

PPP proposes 27 trillion won cut
Increase 11.6 trillion for people's livelihoods

The People Power Party proposed cutting more than 27 trillion won from next year's government budget.

  1. 1 pagesPPP proposes 27 trillion won cut Increase 11.6 trillion for people's livelihoodsPolitics
  2. 2 pagesPresident Lee's Budget Policy Address 820 trillion won growth distribution budgetPolitics
  3. 3 pagesYoon's election law second trial today 39.7 billion won refund at stakePolitics
Politics · Under review · 4 sources combinedp. 1 / 3

PPP proposes 27 trillion won cut
Increase 11.6 trillion for people's livelihoods

D-25 Deadline December 2 · Legal deadline for budget processing
Photo: 연합뉴스

In short

The People Power Party proposed cutting more than 27 trillion won from next year's government budget.

Instead, they proposed spending an additional 1.15924 trillion won on people's livelihood sectors including youth, childcare, and safety.

The legal deadline for budget processing is December 2, but negotiations between ruling and opposition parties remain.

Key facts

WhenOn November 3, the People Power Party announced its budget review direction for next year.
WhoPPP Chairman Jang Dong-hyeok announced it directly at the party headquarters in Yeouido.
WhatThe proposal cuts 27 trillion won or more and increases 1.15924 trillion won from the government's 821 trillion won budget plan.
HowThey selected 100 problem projects for cuts and proposed using the 104 trillion won Future Response Fund for government debt repayment.

What it means for me

Delays in budget review by the National Assembly may slow implementation of various support projects next year.

The proposal includes expansion of loan support for small business owners, and results should be monitored.

This proposal includes a plan to establish a 24-hour emergency childcare system for seniors.

Politics · Planned · 2 sources combinedp. 2 / 3

President Lee's Budget Policy Address
820 trillion won growth distribution budget

D-25 Deadline December 2 · 예산안 법정 처리 시한
Photo: 한국경제

In short

President Lee Jae-myung explained next year's budget bill at the National Assembly on November 2.

He called the 820.9 trillion won budget the 'Growth Distribution Budget.'

The People Power Party opposed it, saying they would cut over 30 trillion won.

Key facts

WhenThe policy address for next year's budget bill was held at the National Assembly plenary session on November 2.
WhoPresident Lee Jae-myung directly explained the direction of the 2027 budget bill.
WhatHe defined the 820.9 trillion won budget as the 'Growth Distribution Budget.'
Funds will be allocated to three major livelihood projects—jobs, consumer finance for low-income earners, and housing stability—and a new future response fund will be established.

What it means for me

The scale of welfare benefits such as Basic Pension (monthly state pension for low-income seniors) and youth support may vary depending on whether the budget bill passes.

If you have young adult children, watch for expansion of youth budgets such as the Youth Future Savings Account and public rental housing.

Small business support budget may be adjusted during National Assembly review, so you should check the final details.

Plans to expand the Basic Pension and Disability Pension are included, so it is worth checking actual changes in payment amounts.

Politics · Planned · 6 sources combinedp. 3 / 3

Yoon's election law second trial today
39.7 billion won refund at stake

Photo: 연합뉴스

In short

The second trial verdict on former President Yoon Suk-yeol's violation of the Public Official Election Act will be held on November 4.

The ruling will determine whether President-elect Yoon's election is invalidated and whether the People Power Party must refund campaign expenses.

The verdict hearing will be broadcast live for the first time.

Key facts

WhenThe Seoul High Court's second trial verdict on former President Yoon Suk-yeol's Public Official Election Act violation will be held at 2 p.m. on November 4 at the Seoul High Court.
WhoThe Seoul High Court's Criminal Division 2-1 (Presiding Judge Baek Seung-yeop) will deliver the verdict.
WhatFormer President Yoon was indicted on charges of publishing false facts twice during his presidential campaign.
HowThe first trial sentenced him to 1 year and 6 months imprisonment with 3 years probation. If confirmed, the People Power Party must refund 39.7 billion won in campaign expenses.

What it means for me

General readers can directly observe the trial process through the live broadcast of this verdict.

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Contents of this edition
1 pagesPPP proposes 27 trillion won cut Increase 11.6 trillion for people's livelihoods2 pagesPresident Lee's Budget Policy Address 820 trillion won growth distribution budget3 pagesYoon's election law second trial today 39.7 billion won refund at stake