The Yoon Suk Yeol government and the ruling People Power Party(PPP) will hold their first policy coordination meeting on Wednesday following President Yoon’s inauguration the previous day.
The government and the PPP had scheduled a meeting for 7:30 a.m. to discuss a supplementary budget aimed at providing disaster relief funds for small businesses hit by the COVID-19 pandemic.
The meeting will be attended by PPP floor leader Kwon Seong-dong, chief policymaker Sung Il-jong, deputy floor leader Song Eon-seog, as well as finance minister Choo Kyung-ho and second vice finance minister Choi Sang-dae.
The participants are expected to decide on the details of the extra budget, including the amount of compensation and eligibility for the relief funds.
During the campaign, Yoon pledged a 50-trillion-won support package to compensate businesses hit by the COVID-19 pandemic, but the planned budget is expected to be around 35 trillion won.
The government plans to hold a Cabinet meeting on Thursday to approve this year’s second extra budget and announce details of the budget in a press briefing.
Source: KBS World Radio