S. Korea Passes Supplementary Budget to Ease Economic Impact of Mideast War
The National Assembly of South Korea approved the 26.2 trillion won ($17.7 billion) package in a 214–11 vote, with 19 abstentions, following a proposal submitted by the government 10 days earlier.
Both the ruling and opposition parties agreed to maintain the original size of the budget while incorporating targeted relief measures for lower-income households, particularly in response to rising global energy costs.
Under the plan, cash assistance will be provided to roughly 70% of the population, with payments ranging from 100,000 to 600,000 won depending on income level and region. Additional funding will also be directed toward stabilizing naphtha supplies critical for industrial production.
A presidential spokesperson welcomed the bipartisan agreement, describing it as a decision that prioritized national interests amid economic pressures linked to the Middle East war, according to reports.
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