The government on the 31st drew up a supplementary budget of 9.524 trillion won to ease the double burden on low-income residents struggling with high oil prices and high inflation due to the Middle East war.
This supplementary budget bill passed the Cabinet meeting that day and is set to be submitted to the National Assembly immediately.
The Ministry of the Interior and Safety (MOIS) plans to distribute support funds more generously to regions farther from the capital and to more vulnerable groups.
Accordingly, people in the bottom 70% income bracket will receive 100,000–600,000 won per person. The total budget is 4.8252 trillion won.
By place of residence, 100,000 won will be paid in the Seoul metropolitan area, 150,000 won outside the metropolitan area, 200,000 won in preferred population-decline areas, and 250,000 won in special population-decline areas. In addition, single-parent families and near-poverty households will receive 450,000 won, and basic livelihood recipients will receive 550,000 won, with an extra 50,000 won per person if they live outside the metropolitan area.
Specific eligibility, payment timing, and other details will be finalized after discussions by the relevant ministries' task force (TF) and announced separately.
In addition, the government included 19.5 billion won to support youth work experience in the social solidarity economy sector and 4.6793 trillion won in increased grant-in-aid (non-earmarked tax) in this supplementary budget plan.
Yoon Ho-jung, Minister of the Ministry of the Interior and Safety (MOIS), said, "Amid rising external uncertainties such as the Middle East war, we will work closely with the National Assembly so this supplementary budget can be a bulwark for people's livelihoods suffering from high oil prices and high inflation."