South Korea's government ministries have requested a total budget of around 422 billion U.S. dollars for 2020.

According to the finance ministry Friday, that's an on-year increase of six-point-two percent.
The budget will go toward more welfare, defense spending and R&D to nurture innovative sectors including the hydrogen economy, AI, 5G network services and bio-health.
The ministry will finalize the budget proposal and submit it to the National Assembly by September 3rd for approval.