SEOUL – A South Korean politician who is leading parliamentary debate on the country’s second extra budget this year said on Tuesday that roughly 36 trillion won (US$32 billion) in additional funding is on the way to help businesses affected by the pandemic. Excess tax revenue of 33 trillion won, according to Park Won-joo, a politician from the ruling Democratic Party, will primarily be utilized to fund the extra budget.
(1 US dollar Equals 1,129.5900 Korean won)
(Cynthia Kim contributed reporting, and Tom Hogue edited the piece.)
Reuters is the source of this information.
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