South Korea Government Policy Update — Nov 2, 2026

Major Policy and Legislative Changes

• Ministry of Economy and Finance & National Assembly: President Lee Jae-myung will deliver a policy speech on the 2027 budget proposal, totaling 820.9 trillion won, at the National Assembly plenary session on November 2. Through this speech, he plans to urge the prompt passage of a new 162.3 trillion won "Future Response Fund."

• Ministry of the Interior and Safety: As the weather gets colder and the use of heating appliances increases, the government is promoting a policy to thoroughly inspect boilers before operation to prevent fires and carbon monoxide poisoning accidents.

• National Assembly: The Democratic Party is moving full speed ahead this week with discussions on a parliamentary probe regarding Chief Justice Cho Hee-dae and a special counsel bill concerning fabricated indictments. This has become a major political flashpoint, coinciding with the ongoing review of the 821 trillion won budget bill.

• Ministry of Foreign Affairs: The Foreign Minister is traveling to the United States to attend the G20 Foreign Ministers' Meeting, while the 1st and 2nd Vice Ministers handle routine diplomatic duties.

Regulatory Improvements and Administrative Changes

• Startup System Improvements: The government is overhauling rigid startup recognition criteria and unreasonable financial transaction practices that startups face in their early stages. It will also ease administrative burdens for business activities by reducing paperwork during the licensing and policy support application processes.

• Encouraging Corporate Investment Through Regulatory Exemptions: To eliminate regulations hindering regional growth, the government is pursuing policies that apply 320 regulatory exemptions to attract corporate investment.

5 sources

m.korea.kr

2026년 제17차 위원회 결과 - 보도자료 | 브리핑룸 | 대한민국 정책브리핑

korea.kr

korea.kr

gonggam.korea.kr

지역 성장 가로막는 규제 푼다… 320개 특례로 기업투자 유도 : 대한민국 정부 정책주간지 K-공감

gonggam.korea.kr

gonggam.korea.kr

korea.kr

2026년 하반기부터 이렇게 달라집니다 - 정책뉴스 | 뉴스 | 대한민국 정책브리핑

Policy Impacts and Future Schedule

• Budget Processing Deadline: The National Assembly must process the 820.9 trillion won budget proposal by the legal deadline of December 2. The ruling party plans to review non-controversial bills and the budget simultaneously to deliver tangible livelihood results.

• Winter Safety Management: The Ministry of the Interior and Safety's policy to strengthen boiler inspections is expected to help prevent winter heating accidents and ensure public safety.

• Effects of Regulatory Rationalization: Streamlining administrative paperwork for startups and applying 320 regulatory exemptions are expected to lower entry barriers for the early startup ecosystem and stimulate regional economic vitality.