South Korea to introduce second extra budget for this year

FILE PHOTO: Women push their shopping carts at a Homeplus market in Seoul, South Korea, August 24, 2015. Spending to ease the burden of rising food prices will be included in the second supplementary budget. - Reuters

SEOUL: South Korea's government will introduce a second supplementary budget for the year on Thursday (June 19), after passing a 13.8 trillion won (US$10.13 billion) budget in May, to support an economy weighed down by US tariffs and sluggish consumer demand.

The budget plan will include spending to help the recovery of people's livelihoods and will be taken up at a cabinet meeting, a spokesperson at the presidential office said on Monday.