SEOUL, May 01 (AJP) - South Korea’s ruling and opposition parties agreed on Thursday to pass a 13.8 trillion-won ($9.6 billion) supplementary budget aimed at revitalizing the economy.
Officials from the ruling People Power Party and the main opposition Democratic Party said they had reached a deal to approve the budget at a parliamentary plenary session scheduled for later on Thursday.
As part of the agreement, the parties allocated 400 billion won for the issuance of local currency vouchers to support small merchants and the self-employed — a significant reduction from the 1 trillion won originally proposed by the Democratic Party.
The agreement also includes 170 billion won to fund discounts on agricultural, livestock and fisheries products in an effort to stabilize consumer prices.
reporter
Kim Dong-young
davekim0807@ajupress.com
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