▲ Prices are listed at a gas station in Seoul on March 19, 2026. South Korea implemented a temporary cap system on March 13 as part of the government's efforts to ease soaring fuel prices and reduce the burden on consumers, setting maximum prices for products oil refineries supply to gas stations and distributors. (Yonhap)

parliament-extra budget

Supplementary budget expected to be passed on April 10 amid Middle East crisis

SEOUL, March 22 (Yonhap) -- The ruling Democratic Party (DP) said Sunday it plans to pass a supplementary budget bill at a parliamentary plenary session next month, as South Korea seeks to cushion the impact of the Middle East crisis.

"We will hold relevant standing committee meetings on the supplementary budget on April 2-3. After that, we aim to pass the bill at a National Assembly plenary session scheduled for April 10," Rep. Kim Hyun-jung, the party's floor spokesperson, told reporters after a general meeting of lawmakers.

The party and the government agreed to draw up and submit this year's first supplementary budget bill to the National Assembly by the end of this month, after President Lee Jae Myung ordered swift preparations to cope with the fallout from the ongoing conflict.

The budget will focus on easing the burden of high global oil prices through energy price support, assisting vulnerable groups affected by rising costs and addressing difficulties faced by businesses, as U.S.-Israeli strikes on Iran have escalated into a broader regional crisis, lawmakers said.

(END)

[ⓒ K-VIBE. 무단전재-재배포 금지]