2026 Ministry of Unification budget confirmed by the National Assembly (Inter-Korean Cooperation Fund of KRW 1,002.3 billion)
The budget for 2026 was confirmed at the plenary session of the National Assembly on 2 December. The Ministry of Unification’s budget comes to KRW 1,244.7 billion in total, of which the Inter-Korean Cooperation Fund accounts for KRW 1,002.3 billion, KRW 201.6 billion or 25.2% more than the year before. The most significant change is that project spending from the fund is back at the KRW 1 trillion level.
What was confirmed
- Ministry of Unification budget of KRW 1,244.7 billion in total: KRW 242.4 billion in the general account (up KRW 13.4 billion, or 5.9%, on the previous year) and KRW 1,002.3 billion for the Inter-Korean Cooperation Fund (up KRW 201.6 billion, or 25.2%).
- The government described the allocation as preparation for exchanges and cooperation resuming.
If you are preparing a fund application
- The items eligible for support under the 2026 fund management plan, and the limits that apply to them, will be set out in a Ministry of Unification announcement early in the year. Once they are confirmed we will explain them on the Fund page and in a notice.
- The eligibility requirements are unchanged. Projects that have a project plan, confirmation documents from the counterpart, and the necessary reports and approvals in place are the first to be reviewed.
- What you can usefully do now is put together an outline of the project and the basis on which its budget is calculated. You are welcome to request a consultation to go through the requirements and the order in which to prepare them.
Source: Korea Policy Briefing, "2026 budget confirmed by the National Assembly" (2 December 2025) https://www.korea.kr/briefing/pressReleaseView.do?newsId=156732753