Seoul: Second Vice Finance Minister Lim Ki-keun emphasized Thursday the importance of ensuring that the benefits of recently announced cash handouts are delivered to all citizens without exception. Earlier this month, the government proposed a second extra budget worth 20.2 trillion won (US$14.7 billion) to stimulate consumption and support the economy. The proposal includes distributing "consumption coupons" ranging from 150,000 won to 500,000 won per person, depending on income levels.
According to Yonhap News Agency, Lim highlighted the role of the supplementary budget in acting as a catalyst to restore a positive economic cycle. During a meeting with small business owners, he stressed the significance of distributing the benefits from the consumption support program thoroughly to all citizens. The latest budget proposal follows a previous 13.8 trillion-won extra budget approved in May. However, the new package still awaits approval from the National Assembly.
Lim urged for meticulous preparations to ensure swift and stable implementation once the budget is passed.