Top lawmakers from the ruling party and senior officials from the government and the presidential office met this morning to discuss next year's budget as well as other bills that need to be passed.
The three sides agreed that the bigger budget is needed... in light of a slew of internal and external uncertainties.
The government has proposed a budget of 470-point-5 trillion won,... or roughly 420 billion U.S. dollars for 2019 -- up 9-point-7 percent on year and the biggest hike in almost a decade.
They said the budget is meant to support the vulnerable... as well as to achieve innovative growth and a fair economy.
They said it will also lay the groundwork for South Korea to become an inclusive nation in which everyone prospers together.
The ruling party also stressed that because it lacks a majority in parliament, opposition support is crucial and they are willing to accept reasonable demands and work candidly through their differences.
The National Assembly has until November 30th to pass the proposal.