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Presidential office says 2nd extra budget plan to be handled at Cabinet meeting this week

June 16, 2025

The presidential office said Monday a second extra budget plan will be handled at a Cabinet meeting later this week.

Presidential spokesperson Kang Yu-jung unveiled the plan in a written briefing, confirming reports that the government is preparing an extra budget bill worth around 20 trillion won (US$14.6 billion) to spur domestic consumption and support economic recovery.

“President Lee Jae-myung is pushing to draw up a supplementary budget for the recovery of people’s livelihoods even while preparing for key events, including his attendance at the Group of Seven (G7) summit approximately two weeks following his inauguration,” Kang said.

The extra budget bill, the second this year, will be presented at a Cabinet meeting Thursday, according to the spokesperson.

Lee is set to embark on a three-day trip to Canada later Monday to attend the G7 summit.