The Special Committee on Budget and Accounts of the National Assembly held consecutive subcommittee and plenary meetings on May 1 and approved a supplementary budget bill amounting to approximately 13.8 trillion won. This is an increase of 1.6205 trillion won compared to the 12.1565 trillion won originally submitted by the government.
On the 28th, at the National Assembly in Yeouido, Seoul, Chairman Park Jung of the Special Committee on Budget and Accounts struck the gavel and declared the opening of the plenary meeting held to review the supplementary budget (supplementary budget) and conduct comprehensive policy questions. Photo by Yonhap News
The supplementary budget bill, which passed the committee through an agreement between the Democratic Party and the People Power Party, includes an increase of 8.8 billion won for wildfire prevention projects, 5 billion won for the introduction and operation of forest helicopters, and 10 billion won for village-level recovery and regeneration projects in areas affected by wildfires. In addition, the budget for national river maintenance to prepare for summer flood damage was increased by 22.5 billion won, and the budget for sewer pipeline maintenance projects was also increased by 28.7 billion won.
The government also decided to inject an additional 400 billion won for the issuance of local gift certificates (local currency). To stabilize prices and boost the consumption of agricultural and marine products, the budget for agricultural and livestock product discount support was increased by 70 billion won, and the budget for seafood discount support was increased by 30 billion won.
Furthermore, in order to respond to crimes that threaten people's livelihoods, such as drug-related crimes and deepfake sex crimes, 3.7 billion won was allocated to the Ministry of Justice's "Crimes Infringing on People's Lives" investigation project. The budget for social overhead capital (SOC) projects to revitalize the construction industry was also increased by about 800 billion won.
Through this supplementary budget bill, the special business expenses for prosecutors under the jurisdiction of the Ministry of Justice (50.7 billion won) and the special business expenses for the Board of Audit and Inspection (4.5 billion won), which had been completely cut from the main budget passed solely by the Democratic Party at the end of last year, were also restored.
On the 1st, at the National Assembly in Yeouido, Seoul, Park Chandae, acting party leader and floor leader of the Democratic Party, and Kwon Seongdong, floor leader of the People Power Party, are smiling after signing the supplementary budget agreement. From left, Choi Sangmok, Deputy Prime Minister and Minister of Economy and Finance, Floor Leader Kwon, Floor Leader Park, and Park Jung, Chairman of the National Assembly Budget and Accounts Special Committee. Photo by Yonhap News.
As an additional opinion, it was stated that the government would provide at least 100 million won in total housing support to victims whose homes were destroyed in the special disaster areas declared in North Gyeongsang, South Gyeongsang, and Ulsan due to wildfires, and would extend the maximum period for livelihood support for affected farming households to 12 months. It was also stated that the government would actively consider new support for the demolition and restoration of factories and commercial buildings, as well as increasing the subsidy for agricultural machinery maintenance.
The National Assembly is scheduled to hold a plenary session at 8 p.m. on this day to vote on the supplementary budget bill that passed the Special Committee on Budget and Accounts.
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