Hong Nam-ki "Emergency Restoration for Heavy Rain Damage... Considering Contingency Fund Support"

[Image source=Yonhap News]

[Asia Economy Reporter Jang Sehee] Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki instructed on the 9th regarding the damage caused by the heavy rain, "Emergency restoration and relief-related financial requirements should be promptly supported by prioritizing the use of each ministry's disaster response funds and reallocation of existing budgets."

On the same day, Deputy Prime Minister Hong held the '2nd Emergency Inspection Meeting on Heavy Rain Damage' at the Government Seoul Office, attended by the 1st and 2nd Vice Ministers of the Ministry of Economy and Finance and heads of departments and bureaus, and announced this.

Deputy Prime Minister Hong ordered that the necessary funds for emergency restoration and relief be promptly supported by each ministry prioritizing the use of existing budgets, adding, "If necessary, additional support measures through contingency funds should also be reviewed swiftly."

The support measures discussed at the meeting include ▲ additional support through contingency funds ▲ price stabilization measures for agricultural products such as cabbage ▲ early restoration of railroads, highways, and power supply ▲ reduction of electricity, gas, and health insurance fees in special disaster areas.

Deputy Prime Minister Hong ordered the 'Heavy Rain Damage Situation Inspection Team' to take the lead in closely coordinating with the Central Disaster and Safety Countermeasure Headquarters, related ministries, and local governments to monitor the damage situation in real time and maintain a timely reporting and response system.

Regarding agricultural product prices, he added, "To stabilize the prices of major agricultural products such as cabbage, which have recently surged, necessary measures such as flexible release of stockpiles will be implemented promptly in close consultation with the Ministry of Agriculture and related ministries."

Meanwhile, the government plans to monitor the damage situation in close consultation with related ministries centered on the Heavy Rain Damage Situation Inspection Team.

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