South Korean president Yoon delivers speech on national budget

South Korean President Yoon Suk Yeol delivered 2024 budget speech at the National Assembly in Seoul on Tuesday.

He vows to ease burden of high interest rates and cost of living. During his speech, Yoon explained that his immediate focus is placed on preventing negative global factors from reaching the public livelihoods.

Calling for the passage of his government's 2024 budget of 657 trillion won,Yoon said he will place his immediate focus on protecting the livelihoods of the people amid a hostile global economic situation while continuing his efforts to change the constitution of the economy.He said 23 trillion won in restructured funds will be redirected to bolster national defense, education and health, as well as to protect the socially vulnerable.