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South Korea approves $17.7 bln extra budget to help cope with Iran war
The bill includes cash aid for 35.8 million people and fuel support as officials seek to cushion higher oil prices.
- On Friday, South Korea's National Assembly passed a 26.2 trillion won supplementary budget in a 214-11 vote to address economic fallout from the Iran war.
- Economic shocks from the Iran war and mounting concerns over rising oil prices prompted the government to propose emergency spending to protect small businesses and vulnerable households.
- The package includes consumer vouchers ranging from 100,000 won to 600,000 won for about 35.8 million people in the bottom 70% of income earners, plus 200 billion won for naphtha supply.
- Presidential spokesperson Kang Yu-jung expressed gratitude for bipartisan cooperation, stating the government will "do its utmost to swiftly implement" follow-up measures for public benefit.
- The government plans to implement the budget as soon as possible while maintaining nationwide fuel price caps for about six months, supporting an energy-import-dependent nation.
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South Korea approves $17.7 billion extra budget to help cope with Iran war
South Korea's parliament approved a supplementary government budget of 26.2 trillion won on Friday to mitigate the domestic economic impact of the Iran war. The spending plan, initially... -April 10, 2026 at 09:31 am EDT MarketScreener
The National Assembly Special Committee on Budget and Accounts held an adjustment subcommittee meeting on the 9th and began a detailed review of the supplementary budget bill. The government's initial proposal of 26.2 trillion won grew to a maximum of 31.41 trillion won after passing through the National Assembly's standing committees. As eight out of ten standing committees decided to increase the budget, criticism arose that "inserted budget i…
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Total News Sources11
Leaning Left1Leaning Right2Center3Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 17%
C 50%
R 33%
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