Rival parties to approve US $9.8 bil. supplementary budget


We start with the breakthrough on a major
cash injection aimed at boosting the economy… Just before the stroke of midnight,… … Korea’s
ruling and opposition parties agreed to approve a stalled extra budget plan. The ruling Saenuri Party, the main opposition
Minjoo Party of Korea and the minor opposition People’s Party reached a compromise on how
to spend the nine-point-eight billion U.S. dollar supplementary budget. It’s slated to be passed at a plenary session
on Thursday afternoon. Key items include an extra one-hundred-80
million dollars for educational facilities. The parties also agreed to make efforts to
compensate South Korean firms shut out of the inter-Korean Kaesong Industrial Complex. Watchers had warned the delayed passage of
the supplementary budget would deal an blow to the economy. The presidential office had also been urging
the National Assembly to speed up negotiations.

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