SEOUL, June 9 (Korea Bizwire) – President Lee Jae-myung on Monday instructed his aides to swiftly prepare an extra budget to support the economic recovery and spur private consumption, the presidential office said. Lee made the call during the second meeting of the emergency economy task force with presidential aides and government officials. “He instructed [...]
SEOUL, May 1 (Korea Bizwire) — The National Assembly on Thursday passed a 13.8 trillion-won (US$9.6 billion) extra budget aimed at helping disaster response efforts and revitalizing the economy. The bill was approved in a plenary session after the Democratic Party (DP) and the People Power Party (PPP) added 1.6 trillion won to the 12.2 [...]
SEOUL, July 24 (Korea Bizwire) — The National Assembly on Saturday gave the nod to a 34.9 trillion-won (US$30.3 billion) extra budget bill aimed at propping up the economy battered by the COVID-19 pandemic. The bill was passed at a plenary parliamentary meeting in a 208-17 vote, with 12 abstentions. The second extra budget this [...]
SEOUL, Sept. 22 (Korea Bizwire) — Owners of small businesses and self-employed people hit hard by a recent resurgence of the new coronavirus in the country will get financial aid from the government under a new extra budget that passed the National Assembly on Tuesday. The 7.8 trillion-won (US$6.7 billion) extra spending aims to cushion [...]
SEOUL, March 30 (Korea Bizwire) — South Korea said Monday it will push for a second extra budget worth 7.1 trillion won (US$5.8 billion) to provide shopping coupons and gift certificates to more than half of the country’s households to help minimize the economic fallout from the spread of the new coronavirus outbreak. The government [...]
Finance Minister Yoo Il-ho (C) holds a meeting with bio-healthcare companies in Incheon on Feb. 4, 2016. (Image : Yonhap) INCHEON, Feb. 4 (Korea Bizwire) – South Korea’s finance minister said Thursday that the government has no immediate plan to draw up a supplementary budget to further stimulate the economy grappling with plunging exports and [...]