South Korea's finance minister says the government is considering a budget worth roughly 420 billion U.S. dollars for next year.
Speaking at a parliamentary meeting today, Hong Nam-ki stressed the need for an expansionary spending plan to boost the economy.
That would be roughly a nine percent hike from this year's budget.
Hong said about 2 billion dollars of the budget will be set aside for the parts and materials industries to make those sectors more competitive and to develop home-grown technologies as a remedy to with Japan's export curbs.
The minister also said that they plan to execute 80 percent of the extra budget for those industries by the end of next month.