Cabinet holds emergency meeting to discuss 12 tril. won supplementary budget

Acting President Han Duck-soo is convening an emergency Cabinet meeting on Friday to review the government's proposed supplementary budget worth 12 trillion won, or eight-point-four billion U.S. dollars.

According to Han's office, the Cabinet will deliberate on plans to funnel two billion dollars for disaster response, including wildfire recovery efforts, two-point-eight billion for boosting trade and competitiveness in Artificial Intelligence, and another two-point-eight to support small business owners.

The government increased the total amount from an expected budget worth seven billion dollars, citing pressing needs.

Once approved by the Cabinet, the proposal must be reviewed and passed by the National Assembly.