The government will seek a supplementary budget worth ten trillion won, or about six-point-eight billion U.S. dollars, to support the economy after massive wildfires devastated the country’s southeastern Gyeongsang region.
Finance Minister Choi Sang-mok announced the plans Sunday during a meeting with economy-related ministers, saying the nation has suffered record damage from the recent wildfires.
Choi said the government is pushing for the extra budget only for projects that can be implemented promptly, in areas where there is no disagreement between rival parties.
The minister said the budget will focus on responding to disasters and accidents, strengthening trade and artificial intelligence capabilities, and enhancing the people’s economic well-being.
The government plans to prioritize wildfire response measures and will focus on securing sufficient funds for recovery work and economic support for people affected by the fires.
The minister asked for bipartisan cooperation to ensure the budget bill passes in parliament in April, stressing the urgent need to overcome the fire damage.