Ruling Party and Government to Swiftly Execute Extra Budget, Minimize Processed Food Price Increases

On July 6, the government and the ruling party agreed to make every effort to stabilize prices, including minimizing the rate of increase in processed food prices.

They also decided to execute the supplementary budget (extra budget) earlier and more swiftly than originally planned in order to boost consumption and stabilize domestic demand, and to establish countermeasures for flood and heatwave disasters.

Park Sanghyuk, Chief Spokesperson of the Democratic Party of Korea, presented the results of the party-government consultations during a briefing at the National Assembly following the High-Level Party-Government Consultative Meeting held at the Prime Minister's Official Residence in Samcheong-dong, Jongno-gu, Seoul on this day.

Chief Spokesperson Park stated, "We shared the view that every possible effort must be made to stabilize perceived prices, as the high price level continues to burden people's livelihoods." He added, "The party requested that the government continue to make efforts to ease the burden on consumers by working closely with industry stakeholders to minimize the rate of increase in processed food prices and stabilize food and dining-out prices. The government also agreed to actively review these requests."

Prime Minister Kim Minseok's Remarks at the High-Level Party-Government Consultative Meeting

(Seoul=Yonhap News) Reporter Lee Junghoon = Prime Minister Kim Minseok is speaking at the High-Level Party-Government Consultative Meeting held at the Prime Minister's Official Residence in Samcheong-dong, Jongno-gu, Seoul on July 6, 2025. 2025.7.6

Photo by Lee Junghoon

uwg806@yna.co.kr (End)

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He continued, "The party requested that the government execute the supplementary budget as quickly as possible to avoid missing the golden time for economic recovery," and added, "The government reported its plan to execute 85% of the budget subject to execution management by the end of September. This is 15 percentage points higher than the target for the first supplementary budget execution."

In addition, Chief Spokesperson Park emphasized, "The party and the government agreed to strengthen measures against heatwaves to reduce the number of heat-related patients, which are increasing due to the hot and humid climate."

This High-Level Party-Government Consultative Meeting was the first to be held under the Lee Jaemyung administration, following the official appointment of Prime Minister Kim Minseok after his confirmation by the National Assembly on July 3. From the party, Acting Representative and Floor Leader Kim Byungki, Secretary General Kim Yunduk, and Policy Committee Chair Jin Sungjun attended. From the government, Prime Minister Kim and Minister for Government Policy Coordination Yoon Changryeol were present, while from the Presidential Office, Chief of Staff Kang Hoonshik, Policy Chief Kim Yongbeom, and Senior Secretary for Political Affairs Woo Sangho attended, respectively.