Korea Joongang Daily
Korea JoongAng Daily

More discounted movie tickets, support measures for Korea’s culture sector as 461.4 billion won supplementary budget passes

A supplementary budget of 461.4 billion won ($310 million) has been approved for the Ministry of Culture, Sports and Tourism to minimize damage to the industry amid economic uncertainty stemming from the Iran war.

2026-04-12

National Assembly passes 26.2 trillion won extra budget bill to deal with Middle East war

The National Assembly on Friday passed a 26.2 trillion won ($17.7 billion) supplementary budget bill meant to mitigate the economic difficulties stemming from the war in the Middle East.

2026-04-10

DP, PPP reach agreement 26.2 trillion won extra budget to moderate impact of Iran war

The rival parties agreed to pass an extra budget bill aimed at coping with the economic fallout from the ongoing war in the Middle East at a parliamentary plenary session on Friday.

2026-04-10

Lee urges Assembly support for supplementary budget response to economic 'crisis'

President Lee Jae Myung’s first policy speech of the year, delivered more than a month into the Iran war, was defined by a single word: crisis.

2026-04-02

Low-to-mid-income households set for payout in bid to offset oil price surge

The government will give up to 600,000 won ($400) per person to lower- and middle-income households as part of a supplementary budget to offset surging oil prices. The government approved the 2026 supplementary budget plan totaling 26.2 trillion won.

2026-03-31

Government proposes 26.2 trillion won supplementary budget to cushion price shocks

The government on Tuesday proposed a supplementary budget of 26.2 trillion won ($17.1 billion), largely aimed at cushioning the impact of surging fuel prices, that will include cash handouts for about 70 percent of the population.

2026-03-31

BOK governor nominee calls for supplementary budget as Iran war impacts Korean economy

Shin Hyun-song, the nominee for governor of the Bank of Korea (BOK), conveyed that a supplementary budget is needed as the Iran war adds to strains on the Korean economy.

2026-03-31

Rival parties agree to pass 25 trillion-won extra budget bill by April 10

The ruling and main opposition parties said Monday they agreed to pass a 25 trillion-won ($16.5 billion) extra budget bill proposed by the government by April 10.

2026-03-30

2027 fiscal policy to pursue AI transformation, potentially reach $529 billion

Korea will pursue an expansionary fiscal policy next year to accelerate a major transition centered on AI, the government said on Monday, with spending potentially approaching 800 trillion won ($529 billion).

2026-03-30

Gov't aims to submit extra budget bill to National Assembly next Tuesday

The ruling Democratic Party (DP) and the government agreed to submit an extra budget bill to the National Assembly next Tuesday in an effort to cushion vulnerable sectors from the economic impacts of a prolonged war in the Middle East.

2026-03-26