Gov't proposes larger extra budget for disaster, trade response

The Finance Ministry has proposed an extra budget of 12-trillion won or some 8-billion U.S. dollars.

The proposal was made during a ministerial economic meeting on Tuesday during which Finance Minister Choi Sang-mok said the government will submit what he called the "necessary" supplementary budget to the National Assembly next week.

The budget, up 1-point-4 billion U.S. dollars from the initial proposal, includes 2-billion dollars for disaster response, 3-billion dollars for trade and AI, and 3-billion dollars for small businesses and vulnerable groups.