South Korea budget panel seeks further cut to Fukushima-linked fishermen aid

South Korea's Ministry of Economy and Finance has finalized a reduction ruling for the Ministry of Oceans and Fisheries' emergency stabilization fund for fishermen, after a fivefold expansion linked to concerns over the Fukushima nuclear plant's contaminated water release produced large unspent balances. The program's budget rose from 20 billion won to 100 billion won in 2024 and stood at 80 billion won in 2025, while execution rates fell from 32.3% in 2023 to 11.4% in 2024 and 2.3% in 2025. Cumulative unspent funds reached about 176.9 billion won ($127.5 million). The evaluation panel said the expansion was politically motivated and led by the Ministry of Economy and Finance rather than requested by the responsible ministry. It credited subsequent reductions to 20 billion won for 2026 but said the allocation still exceeded recent demand, recommending a smaller peacetime budget and the use of supplementary budgets or reserve funds for major disasters. The ruling requires the ministry to submit a 2027 budget request at least 15% below the 2026 allocation.

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