South Korea Proposes Major Supplementary Budget

South Korea's government, under acting President Han Duck-soo, has proposed a 12.2 trillion won supplementary budget. The additional funds aim to support businesses against tariff risks and aid recovery from major disasters like recent wildfires. The announcement was made during a cabinet meeting.

South Korea's acting President Han Duck-soo announced a proposed 12.2 trillion won supplementary budget on Friday. The proposal was made during a cabinet meeting and broadcasted live by local television network YTN.

The budget is aimed at aiding businesses facing tariff risks and offering recovery support to those affected by recent catastrophic events, such as devastating wildfires.

The initiative highlights the government's focus on economic stabilization amid ongoing challenges, with the current exchange rate being $1 to 1,422.00 won.

(With inputs from agencies.)