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Democratic Party to Push Through 31.8 Trillion Won Universal Cash Voucher Bill

The ruling party leveraged its 56 percent majority to clear a subcommittee vote on an expanded budget featuring up to 520,000 won in digital vouchers per citizen.

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Office workers look at their mobile phones to check the local online banking app Toss as they gather at Seoul Museum of Art during a lunch break in Seoul, South Korea, April 13, 2023. REUTERS/Kim Hong-Ji/File Photo
President Lee Jae Myung (R) presides over a Cabinet meeting at the presidential office in Seoul on July 5, 2025. (Yonhap)

Overview

  • A parliamentary subcommittee approved the 31.8 trillion won supplementary budget, marking a 1.3 trillion won increase from the government’s earlier 30.5 trillion won proposal.
  • The Democratic Party plans to secure final passage in the full National Assembly later Friday by relying on its 56 percent majority and the absence of opposition lawmakers.
  • Main opposition People Power Party lawmakers walked out of the subcommittee meeting in protest, warning that expanded cash handouts could undermine fiscal sustainability and further swell national debt.
  • The package centers on universal digital vouchers worth up to 520,000 won per citizen to boost consumption amid sluggish domestic demand and external pressures.
  • Critics point to South Korea’s national debt ratio nearing 48.4 percent of GDP, intensifying debate over the long-term impact of President Lee Jae Myung’s aggressive stimulus measures.