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South Korea Finalizes $8.6 Billion Budget for Disaster Recovery, Trade Support, and AI Investment

The government will submit the 12.2 trillion-won supplementary budget to the National Assembly next week, aiming to address wildfires, trade tensions, and economic pressures.

This illustrated image depicts the Donald Trump administration's tariff policies. (Yonhap)
Acting President Han Duck-soo speaks during an extraordinary Cabinet meeting at the government complex in Seoul on April 18, 2025. (Pool photo) (Yonhap)
This illustrated image depicts the extra budget bill. (Yonhap)
This illustrated image depicts artificial intelligence chips. (Yonhap)

Overview

  • The supplementary budget allocates 3.2 trillion won for disaster recovery, including wildfire relief and enhanced firefighting capabilities.
  • 4.4 trillion won is designated for mitigating trade risks and bolstering advanced industries like AI and semiconductors.
  • The budget includes 4.3 trillion won to alleviate financial burdens on small businesses and households.
  • 25 trillion won in policy funds will support exporters impacted by U.S. tariffs, with low-interest loans and export insurance.
  • The plan will be financed through 4.1 trillion won in reserves and 8.1 trillion won in government bonds, raising national debt to 48.4% of GDP.