The National Assembly passed the government’s 2015 budget bill Tuesday, meeting the legal deadline for the first time in 12 years.
The bill calls for increasing the government budget by 5.51 percent to 375.4 trillion won ($338 billion) next year from 355.8 trillion won this year.
It is hoped that the increase will stimulate the economy, government officials said.
The three sectors with the biggest budget increase were welfare, including health and job creation; general and local administration; and education.
The welfare sector had the highest budget increase, with 115.7 trillion won, which accounts for more than 30 percent of the total budget.
The foreign affairs and unification sector had the lowest budget allocation with 4.5 trillion won.
