"Supplementary Budget of 33 to 35 Trillion Won to be Distributed... Disaster Relief Funds to be Provided to All Citizens"

Park Wan-joo, Policy Committee Chair, "Execution of Small Business Damage Support, Nationwide Disaster Relief Fund, Credit Card Cashback, etc."
"Will Ensure Supplementary Budget Passes in July"

[Asia Economy Reporter Oh Juyoun] The Democratic Party of Korea announced plans to draft the second supplementary budget (supplementary budget) in the range of 33 trillion to 35 trillion won.

On the 22nd, Park Wanju, the chairman of the Democratic Party's Policy Committee, said at the party's floor strategy meeting in the morning, "The approximate size of the supplementary budget will be around 33 trillion to 35 trillion won," adding, "Some of it will be based on the national debt situation, and accordingly, the available resources for the supplementary budget, including national funds and local government grants, are estimated to be roughly within 33 trillion won."

Yoon Ho-jung, Floor Leader of the Democratic Party of Korea, and Park Wan-joo, Chairman of the Policy Committee, are attending the floor countermeasure meeting held at the National Assembly on the 22nd. Photo by Yoon Dong-joo doso7@

Chairman Park explained, "This supplementary budget will be executed through support policies such as damage relief for small business owners, nationwide disaster relief funds, and credit card cashback," and added, "To strengthen quarantine and vaccination efforts, costs will be supported not only for the first and second vaccinations but also to prepare for new variant viruses to ensure no disruption in vaccine procurement."

He also stated, "We will spare no effort in financial support for emergency employment measures to stabilize employment and livelihoods, support for youth employment ladders, and vulnerable groups in blind spots," and said, "Along with economic policies in the second half of this year, we will quickly proceed with consultations on the supplementary budget contents from early July to ensure the supplementary budget passes within July."

Meanwhile, regarding the disaster relief fund recipients, the government insists on providing support only to the bottom 70% income bracket, but the Democratic Party maintains its stance on 'nationwide disaster relief funds.'

On the same day, floor spokesperson Han Junho told reporters after the meeting, "The party has not wavered in its position to provide disaster relief funds to all citizens," and added, "We have never withdrawn or changed our position."