Photo: Yonhap News
President Moon Jae-in says it was meaningful for the National Assembly to have passed another supplementary budget bill in less than two weeks after it was submitted by the government.
Moon on Wednesday took note of how parliament passed the extra spending plan in the shortest time by way of a compromise between the ruling and opposition parties, according to Cheong Wa Dae.
It is the first time in 59 years South Korea has earmarked four extra budgets in a single fiscal year.
Under the new 7.8 trillion won relief package aimed at buffering the economic fallout from the pandemic, some 3.8 trillion won will go to help 3.77 million people affected by a recent resurgence of COVID-19 in the country, including hard-hit small business owners and self-employed people.
The budget will also cover financial support for a greater number of taxi drivers and parents with young children than initially proposed by the government, as well as 1.4 trillion won in spending to sustain nearly 1.2 million jobs.
The government is planning to dole out a majority of the new emergency assistance before the extended Chuseok holiday, which begins next Wednesday.
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