National Assembly set to handle bill on extra budget intended to mitigate Iran war fallout
Published: 10 Apr. 2026, 14:45
![People stand in front of the main building of the National Assembly in western Seoul in a photo from Feb. 27. [NEWS1]](https://koreaseafood.online/data/photo/2026/04/10/e11bdaee-cec1-4920-a47e-348e64f29f05.jpg)
People stand in front of the main building of the National Assembly in western Seoul in a photo from Feb. 27. [NEWS1]
The National Assembly is set to handle an extra budget bill on Friday that is intended to mitigate the economic fallout from the Iran war.
The extra budget, intended to ease the burden of rising oil prices and protect small businesses and vulnerable households from the economic repercussions of the conflict, has expanded to around 30 trillion won ($20.3 billion) from the government's initial proposal of 26.2 trillion won, following reviews by standing committees.
Rival parties earlier agreed to pass the bill by Friday, but remain at odds over details of the budget, including the government's plan to distribute cash assistance to the bottom 70 percent of income earners, designed to help ease the burden from rising oil prices.
If the bill is passed, about 35.8 million people will receive between 100,000 won and 600,000 won per person, with payments differentiated by income level and region.
The main opposition People Power Party has argued that the projects included in the bill are inconsistent with the purpose of the extra budget, calling for programs that provide direct assistance to those affected. The ruling Democratic Party has urged the swift passage of the bill.
The National Assembly will hold a plenary session later in the day to process the bill.
Yonhap
with the Korea JoongAng Daily
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