Tax collections in the first four months of 2021 were up 32.5 percent on year, giving the government the wiggle room to pass a supplementary budget without selling more debt.
A 30-trillion-won supplementary budget may be passed despite increasing concerns about inflation and the rising national debt.
Finance Minister Hong Nam-ki caved to demands by the ruling Democratic Party (DP) for another supplementary budget. It would be this year’s second and the sixth since the Covid-19 pandemic started in 2020.
Korea is likely to collect more than expected tax revenue this year, potentially securing ammunition to finance another extra budget that could be under review to help underpin an economic recovery.
The Seoul Metropolitan Office of Education proposed on Thursday a supplementary budget of 1.1 trillion won ($983.9 billion), part of which will go toward supplying every middle school student with an electronic device. “We have set aside some 60...
Financially troubled Eastar Jet aims to select a new investor by early May as several investors have shown an interest in the budget carrier, the company's chief executive officer said Tuesday.
On Thursday, the National Assembly passed a 14.9 trillion won supplementary budget that included 7.3 trillion won in emergency relief grants for small businesse
It was the first supplementary budget for this year and the fifth since the Covid-19 pandemic started.
The Moon Jae-in administration has often gotten in trouble by picking the wrong battles and going too far. They there are its failures of omission. One of its biggest failings was neglecting reform of the national pension...
The government unveiled a 19.5 trillion won stimulus package, which includes a 15 trillion won supplementary budget that will provide maximum 5 million won grants for small businesses impacted by the restrictive Covid-19 social distancing.