The Democratic Party has announced plans to form a dedicated task force focused on inflation and to begin discussions in earnest on drafting a supplementary budget. 

Party floor leader and acting chief Park Chan-dae unveiled the plans Monday during the party’s Supreme Council meeting. 

Park said the party will set up a price management task force and work with the government to resolve issues linked to the people’s economic well-being, stressing that price stability should be a top priority. 

Park said that as the ruling party, the Democratic Party will strongly support the government’s efforts to revive the economy, noting that President Lee Jae-myung launched an emergency economy review task force on his first day in office to address the people’s concerns. 

The acting chief also said the party will push for a supplementary budget to stimulate an economic recovery. 

Park called on the opposition People Power Party to cooperate in bipartisan efforts, recalling that the now-opposition party pledged a 30 trillion won supplementary budget during the presidential campaign.

That’s about 22 billion U.S. dollars.