Gov’t to allocate 31 bln won initial budget for Yoon’s presidential office relocation

The government has decided to allocate some 31 billion won (US$25.5 million) in state funds for an initial budget for President-elect Yoon Suk-yeol’s project to move the presidential office, sources said Monday.

Yoon’s transition team has been in working-level talks with the defense and other government agencies on the state budget needed for the planned relocation after President Moon Jae-in offered to cooperate with Yoon over the issue in a meeting a week earlier.

The initial budget is far less than the 49.6 billion won Yoon had initially proposed.

They have reportedly agreed to execute the budget first to remodel the defense ministry’s headquarters designated as the new presidential office and a new presidential residence, and allocate more funds to finance further expenditures down the road.

It, however, remains unclear when the budget plan will get the nod from the Cabinet.

The interior ministry in charge of the issue announced in a statement earlier in the day the budget will be handled in an extraordinary Cabinet meeting at the earliest, without giving an exact date, saying a further working-level review over national security is necessary.

President-elect Yoon’s inauguration is scheduled for May 10.