"Remove All Unnecessary Fat"... Minister Hongkeun Park Previews 'Strong Expenditure Restructuring' While Making Sweet and Sour Pork

Explanation of Local Education Financial Grants and the Future Response Fund
"Developing Life-Stage Support Measures Tailored to Young People's Needs"
"There Will Never Be a Situation Where People Cannot Receive Their Pension Due to Depletion"

Minister of Planning and Budget Hongkeun Park announced his intent to implement strong expenditure restructuring, including a review of the local education finance grants, during the process of drafting next year's budget proposal. He stated, "Just as you need to remove all the unhealthy fat for delicious food, so too must we make bold adjustments to create a healthy national budget."

Minister Hongkun Park of the Ministry of Planning and Budget appeared on the official YouTube channel of the Ministry of Planning, cooking sweet and sour pork with Chef Eunyong Park (right) while discussing national finances. Minister Park stated, "To make delicious dishes, all unhealthy fat must be removed," signaling bold expenditure restructuring in next year's budget formulation. Ministry of Planning YouTube

Minister Park appeared on the official YouTube channel of the Planning and Budget Office, where he cooked sweet and sour pork with chef Eunyeong Park and discussed national financial management. The video, uploaded on July 31, has since garnered over 690,000 cumulative views, drawing significant public attention.

In the video, Minister Park used the process of trimming excess fat from pork as a metaphor for fiscal reform. He emphasized, "Just as delicious food comes from removing all the unhealthy fat, we must also refine the budget by eliminating unnecessary expenditures." He added, "We have already begun expenditure restructuring by reviewing— from scratch— duplicate and wasteful projects that have continued across all ministries as an established practice."

Education finance was singled out as a primary area for restructuring. Minister Park criticized the current structure of the Local Education Financial Subsidy, which allocates 20.79% of domestic tax revenues to elementary, middle, and high school education, even as the school-age population sharply declines. He clarified, "This does not mean that we will indiscriminately cut the budgets for elementary, middle, and high schools. Rather, the aim is to reallocate resources more evenly to preschool education, higher education such as universities, and lifelong vocational retraining, thereby increasing the overall efficiency of education investment."

On the other hand, the funds saved through restructuring, along with a record high in additional tax revenues, will be focused on supporting young people and future industries. Minister Park stated, "Like this sweet and sour pork sauce, we are establishing life-stage-specific support measures tailored to the needs of young people," and announced the creation of the 'Future Response Fund,' which will be actively used to train talent for key future sectors such as artificial intelligence and semiconductors.

Regarding the issue of the National Pension Fund depletion, which is a major source of anxiety for the younger generation, Minister Park reaffirmed the government's commitment to national responsibility. Responding to Chef Park's question about whether she would be able to receive a pension, Minister Park said, "Last year, we carried out pension reform, increased insurance premium rates, and secured additional funding; the fund's investment return rate also hit a record high." He continued, "Since the government's responsibility for payment is now clearly stipulated by legal amendment, there will never be a situation where people are unable to receive their pension due to fund depletion."

This content was produced with the assistance of AI translation services.