‘4th Supplementary Budget’ Senior Party-Government-Cheong... "70% to be Executed Before Chuseok"

[Asia Economy Reporter Jeon Jin-young] On the 24th, the ruling party, government, and Blue House held a high-level meeting to discuss early execution plans for the 4th supplementary budget (supplementary budget) bill.

The Democratic Party of Korea, the government, and the Blue House held a meeting at the National Assembly in the morning to exchange opinions on the plan to disburse the 7.8147 trillion won budget, which passed the Cabinet meeting the previous day, before Chuseok, as well as on quarantine measures for the October 3rd gatherings and the Chuseok period.

[Image source=Yonhap News]

Lee Nak-yeon, leader of the Democratic Party of Korea, said in his opening remarks, "We have already prepared for rapid execution even before the supplementary budget is processed," adding, "I expect the execution rate of the supplementary budget before Chuseok to be higher than expected." He also urged, "We must expand the delivery system and thoroughly understand the actual conditions to ensure that the support funds are properly delivered."

Regarding the recent flu vaccine room temperature exposure incident, he added, "I appreciate the quick response and hope measures will be taken to completely dispel public concerns."

Prime Minister Chung Sye-kyun expressed confidence in the rapid disbursement, stating, "About 70 percent of the approximately 7.8 trillion won budget is expected to be executed before Chuseok." In his opening remarks, Prime Minister Chung emphasized, "This opportunity to dispel public concerns and demonstrate the possibility of cooperation between the ruling and opposition parties, as well as between the government and the National Assembly, was truly significant."

He continued, "We will do our best to fill gaps with the government's authority and eliminate blind spots. This supplementary budget resource was entirely raised through bond issuance. We will keep in mind that every won is precious taxpayers' money and do our utmost to ensure that not a single won is wasted."

Regarding the October 3rd gatherings, Prime Minister Chung took a stance of complete prevention. He warned, "There are citizens who intend to hold gatherings in Gwanghwamun around October 3rd. The government has clearly stated that it will never tolerate gatherings in Gwanghwamun on October 3rd. Under no circumstances or by any altered means will gatherings in Gwanghwamun be allowed. Anyone who breaks the law will be firmly held accountable."