The De la Espriella government, in office since August 2026, campaigns on a hard line on security and spending cuts. Congress passed a COP 634.95 trn 2027 budget on 20 October and gave the president 90 days to present a fiscal adjustment plan.
What a Korean company can do now
Government · leader
President Abelardo de la Espriella (in office since 2026-08-07; head of state and government)
Key national agenda
- Restoring security against armed groups and organized crime
- Cutting the deficit and passing a Fiscal Law
- Tackling the health crisis and funding pensions
- Managing energy and fuel subsidies
- A National Development Plan centered on regional infrastructure with private participation
Government programmes
2027 national budget (PGN)COP 634.95 trn
Final approval by Congress, which asked the president for a fiscal adjustment plan within 90 days
Fiscal LawAbout COP 45 trn adjustment
About COP 45 trn (2.2% of GDP) of adjustment framed as tax simplification and growth support, aiming to bring the 2027 deficit to about 7.2%
Health spending increaseCOP 5 trn
COP 3 trn added to the planned 2 trn, for COP 5 trn to address the health crisis
Fuel price stabilization fund (FEPC) and energy subsidiesCOP 12.6 trn
COP 9.6 trn for fuel price stabilization plus COP 3 trn more for power and gas subsidies
National Development Plan (PND)
Due after the Fiscal Law, focused on regional infrastructure and a larger private-sector role
Bogotá Metro Line 2
International tender drew no bids in January 2026; relaunch with multilateral bank support, award targeted for Q1 2027
Business opportunities
AI analytics for public spending efficiency and tax digitalization
🔒 Why-now and buyers — analysis member ₩19,800/mo
Feasibility and structuring consulting for regional infrastructure PPPs
🔒 Why-now and buyers — analysis member ₩19,800/mo
Open this week
Colombia entry package for Korean SMEs (market research, buyer matching)
Public and private procurement is shifting with the change in security and fiscal policy (estimated).
Korean SMEs seeking to enter Colombia
Health administration and claims automation
🔒 Why-now and buyers — analysis member ₩19,800/mo
Free members get a human-reviewed summary by email for up to 3 countries a month (sent within 24h). BUILD members get them all.
Korean support schemes
- KOTRA Bogotá trade office · KOTRA — Supports market information, buyer search and public procurement information.
- KOICA cooperation in Colombia · KOICA — Runs grant programs in areas such as peacebuilding and rural development.
- Export Voucher · MOTIE / Ministry of SMEs and Startups — Covers local certification, translation and consulting costs.
Official notices
Presidency of the Republic of Colombia
- 2026-08-07 President De la Espriella sworn in in Cali (first inauguration outside the capital)
- 2026-08-27 Government resubmits a COP 634.9 trn 2027 budget to Congress
- 2026-10-20 Congress gives final approval to the COP 634.95 trn 2027 budget
Disaster · conflict · epidemic
Watch 2026-11-07
Flooding reported (GDACS, 10/23)
Violence by armed groups and drug cartels continues
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