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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
·Annecy, France
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Coverage Details
Total News Sources12
Leaning Left1Leaning Right3Center4Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
13%
C 50%
R 37%
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