Prime Minister Jeong: "3rd Supplementary Budget is the Largest Ever, Focused on Swift and Effective Execution"

Prime Minister Jeong Sye-kyun

[Asia Economy Reporter Kwangho Lee] Prime Minister Chung Sye-kyun said on the 4th, "The third supplementary budget (supplementary budget) of 35.1 trillion won has been prepared on the largest scale ever to quickly overcome the most serious economic crisis since the Great Depression and to proactively prepare for the post-COVID-19 era with the Korean New Deal, etc.," adding, "We must focus all our capabilities on rapid and effective execution so that the effect of the supplementary budget will also be the greatest ever."

On the same day, Prime Minister Chung presided over an extraordinary Cabinet meeting at the Government Seoul Office to approve the allocation plan and budget announcement of the third supplementary budget, which was confirmed by the National Assembly the day before.

Prime Minister Chung emphasized, "We must keep in mind that this supplementary budget is a precious resource that was difficultly secured through expenditure restructuring and government bond issuance," and "Above all, we must timely assist workers facing the risk of unemployment and companies suffering from liquidity crises."

He continued, "Each ministry should not merely execute the budget but continuously communicate with the field to supplement policies and keep considering creative ways to increase the speed and efficiency of execution."

Furthermore, he requested, "Please ensure the smooth implementation of the extension of the employment retention subsidy and support projects for youth in housing, finance, and jobs, which were reflected in the National Assembly," and added, "Please provide sufficient guidance so that citizens do not miss out on the benefits of various support projects and can fully enjoy them."