Seoul: President Lee Jae-myung will hold the second meeting of the emergency economic task force this week, his office announced on Sunday. The gathering is anticipated to discuss an additional supplementary budget aimed at stimulating the local economy.
According to Yonhap News Agency, Lee is scheduled to lead the session on Monday with the presence of presidential aides, relevant authorities, and working-level officials. The agenda is expected to prioritize economic stimulus measures and details of the second supplementary budget. Last week, Lee chaired the inaugural meeting of the task force on his first day in office, during which he received briefings on the local economy’s status and the potential impact of an extra budget.
During his campaign, President Lee committed to introducing an extra budget of at least 30 trillion won (approximately US$22.1 billion) to invigorate the sluggish economy. With the National Assembly’s recent approval of a 13.8 trillion-won extra budget bill, the additional budget is anticipated to be at least 20 trillion won.
Rep. Jin Sung-joon, the policy chair of the ruling Democratic Party, mentioned in a recent radio interview that the party is contemplating a supplementary budget of 20-21 trillion won. He highlighted that 14 trillion won in spending from its initial proposal of 35 trillion won had already been confirmed in the first supplementary budget.