Gov't, ruling party push for cash handout for all citizens in extra budget plan

Government and ruling Democratic Party of Korea officials speak during a meeting on a supplementary budget at the National Assembly, June 18. Yonhap

The government and the ruling Democratic Party of Korea (DPK) said Wednesday a planned extra budget will include cash handouts for all citizens, with DPK officials indicating that the size of the budget plan may exceed 20 trillion won ($14.5 billion).

Rep. Jin Sung-joon, the DPK's chief policymaker, made the announcement after a policy meeting with party and government officials, saying the budget will provide cash payments to all citizens, as well as additional assistance to low-income and vulnerable groups.

"The ruling party has consistently called for universal relief, and the government has accepted our proposal," Jin told reporters.

The second supplementary budget will likely exceed 20 trillion won, following this year's first extra budget of 13.8 trillion won.

The relief package, designed to boost the economy and support people's livelihoods, especially among low-income groups, marks a key initiative of the Lee Jae Myung administration.

Last month, the National Assembly passed a 13.8 trillion-won extra budget, which included some 400 billion won for the issuance of vouchers to help small merchants.