Blue House: "If Additional Response Is Needed for Middle East Situation, Supplementary Budget Will Be Seriously Considered"

Kim Yongbeom, Blue House Policy Chief, Holds Briefing on the 9th

"If Not Resolved Quickly, Financial Needs Will Increase"

Policy Chief Kim Yongbum is briefing the results of the emergency economic inspection meeting related to the Middle East situation held this morning at the Blue House Press Hall on the 9th. Photo by Yonhap News

Kim Yongbeom, Blue House policy chief, stated on March 9 that the possibility of drafting a supplementary budget to respond to the Middle East situation "should be discussed seriously."

During a press briefing at the Blue House press center that afternoon, Kim responded to a question regarding whether the supplementary budget could be brought forward if the Middle East situation becomes prolonged, saying as above. He explained, "The economic outlook was quite favorable, but now things have changed. It is uncertain how long the Middle East situation will last," adding, "If it is not resolved quickly, there will be many financial needs as a result."

Kim further commented, "There are industries that are directly impacted," and continued, "The top priority has become ensuring that the Korean economy weathers this shock without suffering damage. If additional measures are deemed necessary based on that, it has become a situation that requires serious consideration."

He also added, "If we respond within the currently set budget limit, we cannot implement a price ceiling system. However, the oil price situation is one that requires a price ceiling system." He implied that if a price ceiling system needs to be implemented for an extended period, financial resources are necessary, and if the budget cannot be secured through measures such as a supplementary budget, there could be difficulties in responding.

Meanwhile, Kim emphasized, "As the President has stated, the government will make every possible effort to turn this crisis into an opportunity for our economy," and requested, "We ask the public to trust the government and focus on normal economic activities."

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