Prime Minister Jeong: "Emergency Disaster Relief Fund Must Break from Traditional Methods to Accelerate Execution"

Emergency Disaster Relief Fund: 7.6 Trillion Won Allocated in the 2nd Supplementary Budget

Prime Minister Jeong Sye-kyun

[Asia Economy Reporter Kwangho Lee] Prime Minister Chung Sye-kyun said on the 16th, "As soon as the supplementary budget bill (추경) passes the National Assembly, we must break away from the existing methods and speed up the execution so that the emergency disaster relief funds can be distributed promptly."

Prime Minister Chung presided over an emergency cabinet meeting held at the Government Complex Sejong and stated, "The government has decided to provide emergency disaster relief funds for the first time ever to overcome the COVID-19 crisis."

He explained, "The supplementary budget resources were prepared through reductions and adjustments of the existing budget so that the tax burden on the people or national debt does not increase."

He continued, "I understand there are various opinions regarding the recipients and amounts of the emergency disaster relief funds, but now is the time to distribute the funds as quickly as possible so that the people can overcome this difficult period."

He urged, "Please gather wisdom in the National Assembly to promptly process the supplementary budget bill so that the emergency disaster relief funds can be executed timely, in line with their name and purpose."

Prime Minister Chung also mentioned, "The Ministry of Economy and Finance and each ministry should thoroughly explain the supplementary budget bill and the reduced existing projects to the National Assembly and seek understanding. Since the emergency disaster relief funds will be distributed in cooperation with local governments and utilize local gift certificates or electronic money, cooperation between the central government and local governments is crucial."

Furthermore, he added, "The government will make every effort to help our economy rise above the difficulties caused by COVID-19. I hope economic agents will share the pain together and unite their efforts to overcome the crisis."

This content was produced with the assistance of AI translation services.