The Democratic Party of Korea and the government reached a consensus on the need for the swift passage in the National Assembly of the 2026 supplementary budget plan, dubbed the "war supplementary budget." They also agreed to continue cooperation between the party and the government during the parliamentary deliberation process.
The Democratic Party of Korea and the Ministry of Planning and Budget held a party-government consultation at the National Assembly on the morning of the 26th to discuss the formulation and handling of the supplementary budget plan. Floor leader Han Byung-do of the Democratic Party of Korea said, "The formulation and execution of a supplementary budget to minimize the impact on the national economy is extremely urgent," adding, "We must not miss the golden time for a timely response to stabilize people's livelihoods, minimize industrial damage, and stabilize supply chains."
Han, the floor leader, went on to say, "The People Power Party is arguing that the review of the supplementary budget be pushed back until the middle of next month," adding, "There is absolutely no reason for the National Assembly to delay its review." He added, "Starting with today's party-government consultation, the Democratic Party will press ahead with the review of the supplementary budget."
Han Jung-ae, the Democratic Party policy committee chair, also drew a line, saying, "We can listen and discuss together the opposition's proposals for a livelihood supplementary budget," but "claims for an election-type supplementary budget are abusive remarks that turn a blind eye to people suffering in their livelihoods." She added, "We will push the supplementary budget as scheduled."
Minister Park Hong-geun of the Ministry of Planning and Budget also said, "In connection with the supplementary budget plan, we prepared it at speed in 19 days to respond preemptively to the crisis without missing the golden time for a timely response." He added, "We will submit the specific details of the supplementary budget plan to the National Assembly on Mar. 31 immediately afterward to explain them in detail to the public, and we will actively cooperate in the subsequent parliamentary deliberations so that the supplementary budget plan can be passed swiftly."
Right after the party-government consultation, Han told reporters that this supplementary budget will "expand the amount of oil stockpiles to respond to high oil prices and stabilize supply chains, and reflect in this supplementary budget the project to compensate losses from the cap on petroleum product prices," adding, "It will also include support for the stable supply of naphtha and projects to stabilize the supply of key strategic items such as rare earths and urea."
He continued, "Along with easing the burden of high oil prices and to reduce dependence on fossil fuels, we will reintroduce the program to support the distribution of residential solar power, and we decided to expand the budget to promote the use of public transportation by raising the K-Pass refund rate to respond to the climate crisis and save energy."
Regarding measures for youth employment, he said, "We will expand the targets of the employment support package and job-seeking support program, encourage job seeking among youths who have been 'taking a break,' establish the K-New Deal Academy, and expand the National Employment Support System, while also strengthening support for creation and startups." In addition, Han said, "We will also strengthen measures to stabilize the livelihoods of vulnerable groups," adding, "discounts on agricultural, livestock, and fishery products; energy vouchers; and support for increases in inorganic fertilizer prices," as well as "expanded support for victims of jeonse fraud and for clearing unpaid wages at Homeplus Co., and expanded preemptive support in the culture, arts, and tourism sectors."