The Presidential Office will hold the second meeting of the Emergency Economic Monitoring Task Force (TF) at 10:00 a.m. on June 9. It is expected that discussions related to the supplementary budget, which were addressed during the first meeting, will continue.
The meeting will be attended by aides from the Presidential Office, as well as vice ministers and working-level officials from relevant ministries such as the Ministry of Economy and Finance, the Ministry of Trade, Industry and Energy, the Ministry of Land, Infrastructure and Transport, and related institutions including the Financial Services Commission.
Given that the supplementary budget was discussed at the first meeting, it is highly likely that the second meeting will focus on more specific details regarding the size and timeline of the supplementary budget. A Presidential Office official told reporters that "during the first meeting, there were instructions regarding the possibility of a supplementary budget and the need to prepare measures in response to the economic situation," adding, "There will be another report on this matter."
The official went on to say, "We expect that a concrete supplementary budget schedule may be released after the second meeting," and added, "We are still in the stage of gathering information and reporting."
Previously, on June 4, his first day in office, President Lee issued his first executive order directing the formation of the task force. During the meeting, which lasted more than two hours, President Lee reportedly asked participants about countermeasures for the economy and people's livelihoods, as well as the government's fiscal capacity and the potential economic stimulus effects of a supplementary budget. Within the ruling party, the size of the supplementary budget is being projected at 20 trillion won plus alpha (α), meaning it could increase further depending on available fiscal resources.
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