Seoul: The presidential office announced that a second extra budget plan will be addressed at a Cabinet meeting later this week. Presidential spokesperson Kang Yu-jung shared this development in a written briefing, confirming that the government is preparing an extra budget bill estimated at around 20 trillion won (US$14.6 billion) to boost domestic consumption and support economic recovery.
According to Yonhap News Agency, President Lee Jae-myung is advocating for a supplementary budget aimed at revitalizing people's livelihoods while simultaneously preparing for significant events, including his participation in the Group of Seven (G7) summit, which is approximately two weeks after his inauguration. The spokesperson noted that the extra budget bill, marking the second of the year, will be introduced at the Cabinet meeting scheduled for Thursday.
In addition, President Lee is planning to embark on a three-day trip to Canada later Monday to attend the G7 summit.