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Third Extra Budget Passed in Late-night Session

#Hot Issues of the Week l 2020-07-05



Late on Friday night the National Assembly passed the government’s third supplementary budget, intended to boost the economy and prepare for the post-COVID-19 era.

The National Assembly held a plenary session at 10 p.m. and passed the 35-point-one trillion won extra budget in just 30 minutes.

The passage came 29 days after the bill was submitted to the Assembly in early June. It is the single biggest supplementary budget to date. 

No lawmakers from the main opposition United Future Party attended the plenary session, while the minor Justice Party refrained from voting, both taking issue with the budget's deliberation process.

The bill's passage was led by the ruling Democratic Party which holds a majority.

On Saturday, Prime Minister Chung Sye-kyun called an extraordinary Cabinet meeting Saturday to approve the budget's planned allocation.

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