Finance Minister Choi Sang-mok has requested an increase of 600 billion won, or around 430 million U.S. dollars, for next year’s reserve fund in case of contingencies after the U.S. presidential election.

During a full session of the National Assembly’s Strategy and Finance Committee on Wednesday, Choi said spending from the reserve fund was relatively low last year and the year before because there were no major disasters.

Aside from the impact of the U.S. election, the finance ministry also said the extra funds might be needed in the event of a disaster or another pandemic. 

The committee said it would be irrational to increase the reserve fund in anticipation of an infectious disease, after reducing the budget already allocated for such situations.

It also took issue with the proposed increase of 14-point-three percent, which surpasses the increase in total expenditures.