Ruling Party, Government, and Cheong Plan to Execute 70% of 4th Supplementary Budget Before Chuseok

Discussion on National Foundation Day Gatherings and Chuseok Quarantine Measures

[Asia Economy Reporter Jeon Jin-young] The Democratic Party of Korea, the government, and the Blue House agreed on the 24th to expedite the execution of 70% of the 4th supplementary budget (추경) before Chuseok. This amount corresponds to about 5 trillion won, excluding the contingency fund, out of the 7.8147 trillion won approved by the Cabinet meeting.

On the 24th, Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance (from the left), Prime Minister Chung Sye-kyun, Lee Nak-yeon, leader of the Democratic Party of Korea, Kim Tae-nyeon, floor leader, and Kim Sang-jo, Chief Presidential Secretary for Policy, posed for a photo at the high-level party-government-civil meeting held at the National Assembly in Yeouido, Seoul. At the meeting, they discussed the detailed execution plan and early implementation measures for the 4th supplementary budget worth 7.8 trillion won before Chuseok. Photo by Yoon Dong-ju doso7@

On the same day, the party, government, and Blue House held a high-level meeting at the National Assembly in the morning to exchange opinions on the early execution plan of the 4th supplementary budget, the gatherings on National Foundation Day (Gaecheonjeol), and quarantine measures during the Chuseok period.

Lee Nak-yeon, leader of the Democratic Party, said in his opening remarks, "We have already prepared for rapid execution even before the supplementary budget is processed," adding, "I expect the execution rate of the supplementary budget before Chuseok to be higher than anticipated."

Regarding communication expenses, a Democratic Party official explained, "The communication expenses amount to a total of 400 billion won, and we plan to support by settling the September bills retrospectively in October."

Prime Minister Chung Sye-kyun expressed confidence in the swift payment, stating, "About 70% of the 7.8 trillion won scale will be executed before Chuseok." In his opening remarks, Prime Minister Chung emphasized, "It was truly a significant achievement to dispel public concerns through this opportunity and to demonstrate the possibility of cooperation between the ruling and opposition parties, as well as between the government and the National Assembly."

Choi In-ho, chief spokesperson of the Democratic Party, held a briefing after the meeting and said, "We plan to promptly provide funds to pre-selected beneficiaries using administrative information databases, and for projects requiring applications and reviews, we will expedite execution by simplifying procedures." He added, "To ensure that each citizen accurately understands the support details and criteria, we will strengthen publicity through various media such as social network services (SNS), the press, and publications," and further stated, "The government will thoroughly manage the budget to prevent waste such as duplicate support, and requested preparations to prevent cases of unfair gains through system abuse."

Meanwhile, there was no discussion on the controversial support for disaster relief funds for entertainment establishments on the day. After the briefing, Chief Spokesperson Choi told reporters, "There was no discussion on that part today."

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