Korea Joongang Daily
Korea JoongAng Daily

Korea's airline industry has diametric Q1 with LLCs hit by forex turbulence

Korea’s airline industry posted sharply divergent results in the first quarter, as long-haul routes and a rebound in cargo helped full-service carriers to record-high sales, while low-cost carriers suffered due to the weak won.

2025-05-18

Trump agenda hits speed bump in U.S. Congress as hard-liners revolt

A Republican push to advance U.S. President Donald Trump's sweeping tax bill through Congress appeared to hit a roadblock on Thursday, as hard-line conservatives demanded deeper cuts to Medicaid in exchange for their support in a key procedural vote.

2025-05-16

Gov't to execute 70% of extra budget within three months to support economy

The government will execute 70 percent of the recently passed 13.8 trillion-won ($9.9 billion) extra budget within three months to boost the local economy and support export companies amid global trade uncertainties, the Finance Ministry said.

2025-05-08

Parties agree to pass nearly $10 billion extra budget for 2025

The ruling People Power Party (PPP) and the main opposition Democratic Party (DP) agreed on Thursday to pass a 13.8 trillion won ($9.6 billion) supplementary budget for 2025.

2025-05-01

Acting president calls for swift passage of extra budget proposal without political considerations

Acting President Han Duck-soo called on the National Assembly on Friday to swiftly pass the government's extra budget proposal without "political considerations."

2025-04-18

Gov't announces $8.6B extra budget for wildfires, trade and AI

The Korean government unveiled details of a 12.2 trillion won ($8.6 billion) supplementary budget aimed at addressing urgent national priorities, including wildfire recovery, trade disputes, AI development and small business support on Friday.

2025-04-18

Korea's finance minister proposes increasing extra budget to 12 trillion won

Finance Minister Choi Sang-mok on Tuesday proposed increasing the size of an envisioned extra budget to 12 trillion won ($8.43 billion) to support key industrial sectors amid an escalating trade war and respond to a surge in natural disasters.

2025-04-15

Gov't eyes $6.8 billion additional budget for wildfire recovery and economic support

Deputy Prime Minister and Finance Minister Choi Sang-mok announced Tuesday that the government would propose a budget addition of 10 trillion won ($6.8 billion) early next week.

2025-04-08

Finance minister calls for cooperation with parliament on supplementary budget

Finance Minister Choi Sang-mok encouraged ministers to work with the National Assembly to pass a supplementary budget to address urgent economic issues as Korea braces for U.S. tariffs.

2025-04-07

Korea to earmark additional $6.8 billion for wildfire recovery and tariff defense

Korea proposes a 10 trillion won ($6.8 billion) supplementary budget allocation to support wildfire recovery and economic revitalization.

2025-03-30