South Korea's opposition plans to pass the 2025 budget bill, aiming to resolve tensions after President Yoon's martial law decree. The budget, cut by 4.1 trillion won, has raised concerns over government functions, economic stability, and support for small businesses.
South Korea's main opposition party announced on Tuesday that it would approve the 2025 government budget bill, which prompted President Yoon Suk Yeol's martial law decree last week, during a plenary session scheduled for later in the day.
The opposition-controlled parliament had previously reduced the government’s proposed 677.4 trillion won ($473 billion) budget by 4.1 trillion won last month.
“We will pass the budget bill today,” said Democratic Party Leader Lee Jae-myung. “A swift passage of the bill will help address the current unease and crisis.” The government has warned that the budget cut would undermine basic functions, delay support for small businesses and vulnerable groups, and weaken its ability to respond to external challenges.
President Yoon cited opposition obstructionism over government budgets as one of the reasons for his martial law decree on 3 December, which sparked a constitutional crisis in Asia’s fourth-largest economy.
Senior Democratic Party lawmaker Park Chan-dae argued that any additional funding required for "spending for people's livelihoods" could be addressed later through a supplementary budget.
South Korea's treasury bond market saw a decline, with three-year treasury bond futures falling 0.10 points to 106.79.
"If finalised, that will ease uncertainty, but the market appears to be reacting somewhat sensitively and emotionally to the comments about an extra budget," said Kong Dong-rak, a fixed-income analyst at Daishin Securities.
Former South Korean First Lady Kim Keon Hee is under scrutiny following revelations that she used a secure presidential phone line to speak with a top aide just weeks before being questioned in a major stock price manipulation and bribery probe.
South Korea’s top court will decide on Friday whether to remove or reinstate President Yoon Suk Yeol, whose brief martial law order sparked the country’s biggest political crisis in years.
South Korea’s opposition Democratic Party has called for a swift ruling from the Constitutional Court on President Yoon Suk Yeol’s impeachment, citing concerns that ongoing delays could worsen political divisions and uncertainty.
South Korea is ramping up security measures as the Constitutional Court prepares to rule on whether to oust or reinstate impeached President Yoon Suk Yeol, with large protests expected.
Kazakhstan’s industrial sector grew by 6.4% year-on-year in the first five months of 2025, driven by increased oil production and strong performance in manufacturing, according to Halyk Finance.
China’s Foreign Ministry has sharply criticised NATO for inflating military spending and interfering in Asia-Pacific affairs, rejecting claims that China supports Russia’s actions in Ukraine.
Europe’s top rights court ruled that French police discriminated against a man of African descent, marking a landmark case of racial profiling against France.
Iran’s Supreme Leader Ayatollah Ali Khamenei warned that any future U.S. attack would trigger strikes on American bases in the region, marking his first public remarks since the Iran-Israel ceasefire.
Scientists in Australia and the U.S. have developed an AI tool that could transform cancer care by revealing the hidden diversity of tumour cells and guiding more targeted therapies.
Iran launched 18 ballistic missiles late Sunday targeting the U.S. military’s Al-Udeid Air Base in Qatar, the largest American installation in the Middle East.
Iranian missiles struck multiple locations across Israel and neighbouring regions early Friday morning, including a Microsoft office complex, according to emergency responders and local media reports.
A high-speed tram derailment in central Gothenburg, Sweden, has left at least eight people injured late on Thursday (19 June), after the vehicle slammed into a snack bar on Avenyn Avenue.
Wizz Air has suspended all flights to and from Tel Aviv, Israel, and its European services to Amman, Jordan, effective immediately until 15 September due to escalating situation in the Middle East. Also, the air carrier temporarily suspended its flights between Astana, Kazakhstan, and Abu Dhabi.
China has unveiled a mosquito-sized bionic drone designed for covert military operations and battlefield reconnaissance, marking a major advance in micro-robotics and stealth technology as part of the country’s growing focus on next-generation warfare capabilities.
Russian Foreign Minister Sergei Lavrov downplayed NATO’s new 5% defence spending target, saying it won’t have a major impact on Russia’s security and accusing the alliance of exaggerating the threat his country poses.
Kyrgyz President Sadyr Zhaparov’s first visit to Malaysia in 30 years sealed a raft of deals on energy, halal industry and tourism. Both nations say the trip launches a “strategic partnership” to match their fast-growing economies.
Germany will halt funding for Mediterranean migrant rescue missions, redirecting aid to conflict-hit regions like Sudan, in a move critics warn will worsen the humanitarian crisis at sea.
China’s Foreign Ministry has sharply criticised NATO for inflating military spending and interfering in Asia-Pacific affairs, rejecting claims that China supports Russia’s actions in Ukraine.
Europe’s top rights court ruled that French police discriminated against a man of African descent, marking a landmark case of racial profiling against France.
Kazakhstan’s industrial sector grew by 6.4% year-on-year in the first five months of 2025, driven by increased oil production and strong performance in manufacturing, according to Halyk Finance.
China’s Foreign Ministry has sharply criticised NATO for inflating military spending and interfering in Asia-Pacific affairs, rejecting claims that China supports Russia’s actions in Ukraine.
Europe’s top rights court ruled that French police discriminated against a man of African descent, marking a landmark case of racial profiling against France.
Iran’s Supreme Leader Ayatollah Ali Khamenei warned that any future U.S. attack would trigger strikes on American bases in the region, marking his first public remarks since the Iran-Israel ceasefire.
Scientists in Australia and the U.S. have developed an AI tool that could transform cancer care by revealing the hidden diversity of tumour cells and guiding more targeted therapies.
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