September 25, 2023

South Korea slashes funding for unification ministry in new budget proposal

40% cut is largest in decade and aligns with Seoul’s efforts to overhaul ministry amid growing tensions with North Korea

South Korea’s unification ministry has requested a more than 40% reduction in its budget for economic cooperation projects with North Korea, under a proposal to cut the ministry’s overall budget by the largest amount in the past decade.

The ministry overseeing DPRK ties, along with other ROK ministries, announced its draft budget proposal for fiscal year 2024 on Tuesday, ahead of the start of a National Assembly session to debate the proposals on Friday.