The government has decided to draw up a 12 trillion won supplementary budget, worth about eight-point-four billion U.S. dollars, an increase of two trillion won from the initial proposal. 

Finance Minister Choi Sang-mok announced the plan Tuesday during a meeting with economy-related ministers at the government complex in Seoul. 

The minister said the government will compile a supplementary budget in the 12 trillion won range that focuses on responding to natural disasters, enhancing the country’s competitiveness in artificial intelligence, and addressing livelihood issues. 

He said more than three trillion won will be set aside for natural disaster response efforts, more than four trillion won to address changes in the global trade environment, and another four trillion won to support small businesses and vulnerable groups.

Choi urged the timely passage of the budget bill in the National Assembly, calling for bipartisan cooperation to make that happen as soon as possible.