▲ This file photo, taken July 28, 2023, shows the logo of the Ministry of Unification. (Yonhap)

unification ministry-budget proposal

Unification ministry seeks 28 pct cut in 2024 budget for inter-Korean cooperation fund

SEOUL, Aug. 29 (Yonhap) -- South Korea's unification ministry said Tuesday it requested a 27.9 percent decrease in its budget for cooperative projects with North Korea next year amid frosty inter-Korean relations and the government's belt-tightening stance.

The ministry said it proposed 874.2 billion won (US$660.5 million) for next year's budget for the Inter-Korean Cooperation Fund, down 338.3 billion won from this year's spending. It marked an unprecedentedly sharp cut in the budget for the cooperation fund.

The reduction came as the ministry proposed a 42.3 percent drop in spending for inter-Korean economic projects, such as its support for the now-shattered Kaesong Industrial Complex in the North's namesake border city.

The ministry earmarked 262.4 billion won next year for economic cooperation projects with the North, compared with this year's budget of 454.9 billion won.

The requested budget for humanitarian assistance was set at 589.6 billion won for 2024, down 19.2 percent from this year. But the share of such spending will account for the largest portion at 67.6 percent of the total proposed budget for the cooperation fund.

Meanwhile, the ministry requested a total budget of 1.109 trillion won -- which breaks down into spending for the cooperation fund and general accounts -- for next year, down 22.7 percent from this year. It marks the second straight year of a drop in its budget.

Of the amount, the ministry asked for a 5 percent hike in the budget for general spending to 234.5 billion won next year, as it plans to spend more on projects designed to raise awareness of the North's human rights record and beef up its capability to analyze North Korea-related information.

The ministry allocated 10.4 billion won next year for a 26 billion-won project to build a state-run center on North Korea's human rights in Seoul. It will also seek to spend 488 million won on subscribing to commercial satellite services to better monitor North Korea.

President Yoon Suk Yeol has taken a hard-line stance against the North's provocative acts, and has stressed the need for making the international community aware of the dismal human rights situation in the North.

The ministry's spending plan is part of the government's proposal for the 2024 state budget of 656.9 trillion won. The government plans to submit it to the National Assembly for approval on Friday.

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