The government holds an extraordinary Cabinet meeting on the 21st and finalizes the 'Supplementary Budget Bill'... to be submitted to the National Assembly on the 24th

[Sejong=Asia Economy Reporter Son Seonhee] The government plans to hold a temporary Cabinet meeting on the 21st to finalize the 'one-point' supplementary budget (supplementary budget) for supporting small business owners, self-employed individuals, and quarantine measures.

According to the Office for Government Policy Coordination on the 18th, the government will hold a temporary Cabinet meeting presided over by Prime Minister Kim Boo-kyum at 9:30 a.m. on the 21st to finalize and approve the supplementary budget. The approved supplementary budget will be submitted to the National Assembly on the 24th. After the Lunar New Year holiday, it is expected to be reviewed by the National Assembly and processed around February 10-11.

Earlier, the government announced that it would provide an additional quarantine support fund of 3 million KRW to approximately 3.2 million small business owners and self-employed individuals whose sales have declined, and prepare a supplementary budget totaling 14 trillion KRW to secure about 1.9 trillion KRW in loss compensation funds.

However, with the presidential election approaching, both ruling and opposition parties are demanding an increase in the budget before the National Assembly review. Regarding this, Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, stated yesterday, "From the government's perspective, considering various economic and fiscal conditions and the fact that this is an early one-point supplementary budget, the scale submitted by the government needs to be maintained, and we hope the National Assembly respects this government position," effectively expressing refusal.

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