“Analysis of the FY 2015 Budget Bill by Area” Volume 1 was published to help the National Assembly effectively review the budget bills for 2015 in the five areas of health, welfare and employment; education; culture, sports, and tourism; research and development; and industry, small businesses, and energy. The main findings are summarized as follows.
In the ‘Health, Welfare and Employment’ area, which has an annual budget of 115.5087 trillion won for 2015, analyses were conducted on the effectiveness of the financial support system including infant care subsidies, the need to address poverty issues of an aging population and secure retirement income, issues of juvenile delinquency and the social safety net, change to the National Basic Livelihood Security System, redundant welfare services and channels to deliver them, effectiveness of the job creation programs, effects of financial investment for housing welfare, the need to expand the coverage of the National Health Insurance Service, and fiscal spending trends.
The main subjects of analysis in the ‘Education’ area, which has a budget of 53.375 trillion won for 2015, are the appropriate size of education subsidies to local governments, fiscal elements of child care and education guaranteed by the government (“Nuri” curriculum), the outcome of university scholarship support and student loan programs, performance tracking for universities’ enhanced competitiveness in their specialized areas, as well as the structure and effectiveness of continued education and vocational training.
In the ‘Culture, Sports and Tourism’ area, which has a budget for 2015 of 5.9772 trillion won, the report takes a closer look at the outcome of financial investment in the contents industry, the revenue structure of culture and art funds, the fiscal burden of hosting international competitions, and the outcome of lending programs in the tourism industry.
For the ‘Research and Development’ area, where a total of 18.8245 trillion won has been allocated for 2015, this report focuses on resource distribution for future growth drivers, the outcome of funding support for the materials industry, the effectiveness of investment in R&D functions of startups and SMEs and the government’s investment planning for startups, the efficiency of R&D centers’ operations, and budgets for government-funded research institutes.
In the ‘Industry, Small Businesses and Energy’ area, which has a total of 16.4508 trillion won allocated for 2015, this report analyzes the effectiveness of technology transfers by R&D centers in the industrial sector and their commercialization, financial support for reviving regional economies, resource distribution to enhance business structures of small enterprises, support for high-growth companies, policy improvements to make support programs for exporters more efficient, customized support for individual small and mid-sized export businesses, and measures to stimulate development of overseas natural resource projects.
In the ‘Health, Welfare and Employment’ area, which has an annual budget of 115.5087 trillion won for 2015, analyses were conducted on the effectiveness of the financial support system including infant care subsidies, the need to address poverty issues of an aging population and secure retirement income, issues of juvenile delinquency and the social safety net, change to the National Basic Livelihood Security System, redundant welfare services and channels to deliver them, effectiveness of the job creation programs, effects of financial investment for housing welfare, the need to expand the coverage of the National Health Insurance Service, and fiscal spending trends.
The main subjects of analysis in the ‘Education’ area, which has a budget of 53.375 trillion won for 2015, are the appropriate size of education subsidies to local governments, fiscal elements of child care and education guaranteed by the government (“Nuri” curriculum), the outcome of university scholarship support and student loan programs, performance tracking for universities’ enhanced competitiveness in their specialized areas, as well as the structure and effectiveness of continued education and vocational training.
In the ‘Culture, Sports and Tourism’ area, which has a budget for 2015 of 5.9772 trillion won, the report takes a closer look at the outcome of financial investment in the contents industry, the revenue structure of culture and art funds, the fiscal burden of hosting international competitions, and the outcome of lending programs in the tourism industry.
For the ‘Research and Development’ area, where a total of 18.8245 trillion won has been allocated for 2015, this report focuses on resource distribution for future growth drivers, the outcome of funding support for the materials industry, the effectiveness of investment in R&D functions of startups and SMEs and the government’s investment planning for startups, the efficiency of R&D centers’ operations, and budgets for government-funded research institutes.
In the ‘Industry, Small Businesses and Energy’ area, which has a total of 16.4508 trillion won allocated for 2015, this report analyzes the effectiveness of technology transfers by R&D centers in the industrial sector and their commercialization, financial support for reviving regional economies, resource distribution to enhance business structures of small enterprises, support for high-growth companies, policy improvements to make support programs for exporters more efficient, customized support for individual small and mid-sized export businesses, and measures to stimulate development of overseas natural resource projects.