Kim Byung-ki, acting chairperson of the Democratic Party of Korea and floor leader, said on the 18th, "We will quickly prepare a supplementary budget for people's livelihoods and execute it accurately."
Acting Chairperson Kim said at a supreme council meeting held at the National Assembly that day, "In a crisis situation like now, it is hard to achieve effects with merely a 'trickle supplementary budget' that is just like urinating in the snow."
The government and the Democratic Party decided to organize a supplementary budget totaling 35 trillion won by combining the 1st and 2nd council meetings. This supplementary budget plan includes support funds for restoring livelihoods and consumption coupons for recovery. It is also expected to reflect a budget to adjust the debts of self-employed individuals and small business owners. Additionally, considering the burden of reduced local grant-in-aid (non-earmarked tax) due to revenue adjustments, they pledged to distribute the funds according to the originally organized budget.
Acting Chairperson Kim stated, "Expansionary fiscal policy is fundamental in crisis situations," and added, "The Democratic Party will do its utmost to prepare specific details regarding payment methods and targets immediately after the government organizes the supplementary budget, even if it means staying up all night, to ensure execution."
He pointed out, "President Lee Jae-myung noted the need to consider both income support and consumption stimulation aspects concerning the supplementary budget. I fully agree," and emphasized, "In terms of people's livelihoods, there is no distinction between the ruling and opposition parties. I ask for the active cooperation of the People Power Party."