88% of Supplementary Budget to Be Executed Within 3 Months... Consumption Coupons Distributed Starting This Month

Joint Fiscal Execution Inspection Meeting by Relevant Ministries
18 Trillion Won to Be Executed by End of September
12 Trillion Won in Consumption Coupons, First Distribution in July

The majority of the supplementary budget will be executed within three months. Among these, the largest portion, the consumption coupons, is planned to be distributed between July and September.

On the afternoon of July 5, the government held a joint "Emergency Fiscal Execution Inspection Meeting" at the Government Seoul Office, presided over by Im Gi Geun, the 2nd Vice Minister of the Ministry of Economy and Finance, to discuss execution plans for major supplementary budget projects.

Earlier that morning, President Lee Jaemyung presided over a Cabinet meeting at the Yongsan Presidential Office, where the 31.8 trillion won supplementary budget, which had passed the National Assembly, was reviewed and approved.

Of the 31.8 trillion won supplementary budget, the government designated 20.7 trillion won for execution management, excluding 10.3 trillion won for revenue adjustment and 300 billion won for national bond interest repayment.

Im Gi Geun, the 2nd Vice Minister of the Ministry of Economy and Finance, is presiding over an emergency fiscal execution inspection meeting for the supplementary budget held at the Government Seoul Office on the 5th. Ministry of Economy and Finance. Photo by Yonhap News.

Of this amount, 18.1 trillion won (87.5%) is planned to be executed by the end of September. This target is 15 percentage points higher than the so-called "essential supplementary budget" approved in early May.

By project, consumption coupons account for the largest share at 12.2 trillion won. Other allocations include 1.4 trillion won for support to small business owners, such as the long-term delinquent bond write-off program (400 billion won), 1.3 trillion won to boost the construction sector, and 1 trillion won for employment stability, including 200 billion won for the National Employment Support program.

Vice Minister Im stated, "This supplementary budget prioritizes efficiency based on pragmatism, with speed as a core value," and emphasized, "It is important to quickly allocate resources where needed so that the budget can serve as a priming water for a virtuous economic cycle and help alleviate the difficulties faced by the public." He also urged, "Please execute the budget with a strong sense of responsibility and urgency."

The first round of consumption coupons will be distributed in July, with the second round scheduled for September. For the high-efficiency home appliance purchase rebate program (up to 300,000 won), the application system will be established next month, and the rebate process will begin. The discount coupon programs will also be rolled out sequentially: movie coupons in July, accommodation, performance, and exhibition coupons in August, and sports facility coupons in September.

Starting July 7, the government will immediately allocate necessary funds upon request from each ministry and will continue to monitor the execution status by ministry and project through regular fiscal execution inspection meetings.

This content was produced with the assistance of AI translation services.