Minister Park Hong-geun Meets Speaker Woo Won-sik: "Swift Passage of War Supplementary Budget Needed"

Minister of Planning and Budget Park Hong-geun met with National Assembly Speaker Woo Won-sik on March 31 and requested the swift formulation of a supplementary war budget totaling 26 trillion won.

On this day, Minister Park paid a courtesy visit to Speaker Woo at the National Assembly Speaker's office in Yeouido, Seoul, and discussed ways to cooperate on matters such as budget formulation and the development of mid- to long-term strategies. This was Minister Park's first visit to the Speaker of the National Assembly since taking office.

Hongkeun Park, Minister of the Office for Planning and Budget, is visiting and having a meeting with Woo Wonsik, Speaker of the National Assembly, on March 31st afternoon at the National Assembly in Yeongdeungpo-gu, Seoul. Office for Planning and Budget

In his opening remarks, Speaker Woo stated, "Minister Park Hong-geun and I have a long-standing relationship, and we share a strong consensus that prioritizing the field and the livelihoods of the people is of utmost importance. I believe that the right person has been appointed at a time when the role of fiscal policy is especially crucial during this period of great transformation." He added, "Given the grave situation in the Middle East and the government's submission of a supplementary budget proposal, I, as Speaker of the National Assembly, will spare no effort to support swift passage of the supplementary budget."

Minister Park called on the National Assembly to process the supplementary budget bill without delay. He emphasized, "As the worsening external environment, including the war in the Middle East, further burdens the livelihoods of the people, protecting vulnerable groups and stabilizing the economy are urgent priorities."

On the same day, the government held a Cabinet meeting presided over by President Lee Jae-myung and approved a supplementary budget proposal totaling 26.2 trillion won. The budget focuses on three main areas: responding to high oil prices, stabilizing the livelihoods of the people, and minimizing industrial damage and stabilizing supply chains.

Minister Park explained, "We will establish a mid- to long-term development strategy for Korea's future during this period of transformation, linking it with five-year national agendas, the medium-term fiscal plan, and annual budgets. Only when these are developed together with the National Assembly, as representatives of the people, can we earn the public's trust and produce results that reflect real-world needs."

The Ministry of Planning and Budget will continue to swiftly implement policies aimed at stabilizing livelihoods and responding to structural crises, based on close cooperation with the National Assembly.

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