How Will the Budget for 2023 Be Spent?

President Yoon and his government are focused on helping out the young generation

Managing Editor Seo Yun-chan

danseo123@naver.com

People are always interested in presidential elections. Not only to see who is running for a nominee, but also to see what they promise for their citizens once they are elected president. After President Yoon became the 20th President of South Korea, his commitment for the next year is gaining a lot of attention.

What people are really interested in is the economic commitment. First, the income of soldiers in our country will rise. 2023 will be the first year that soldiers drafted for duty will get paid over one million KRW per month. This wage, of course, is only for sergeants, which is the highest rank for regular soldiers in South Korea. However, it is meaningful that soldiers are getting more money every year.

Next, young parents who have babies will get extra support. According to research, the birth rate last year in South Korea was 0.82. This was the lowest rate among the countries around the world. To solve this problem, President Yoon and his government released a new policy. Now, parents who have children who are younger than twelve months are eligible to receive money from the government. This has been named the 'Parent Wage'.

Also, young people who are looking for a job can get support from the government. Elders who live alone can also get support, too. Such policies that help the citizens are looking to have a positive impact on the economy and society.