Gov't to frontload 68% of 2015 spending during January-June period

South Korea's government said Tuesday it plans to frontload 68 percent of its spending for fiscal 2015 in the first half of the year in a bid to support economic recovery.

The Cabinet approved the plan for next year during a meeting, which was presided over by President Park Geun-hye earlier in the day. The country's fiscal year begins on Jan. 1.

Of the total expenditures amounting to 322.7 trillion won, 219.6 trillion won or 68 percent will be set aside for the January-June period, the spending plan said. The comparable figure stood at 65.4 percent this year.

The lion's share of 39.6 percent goes to the first quarter, compared with 28.4 percent for the second quarter, 19.6 percent for the third quarter and the remaining 12.4 percent for the fourth quarter, according to the plan.

Spending plans for the January-June period are aimed at, among others, "stabilizing the people's livelihood, recovering the economy's vitalization and creating jobs," officials at the Ministry of Strategy and Finance said.

Park Sae-jin swatchsjp@ajunews.com

Gov't to frontload 68% of 2015 spending during January-June period

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