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South Korea to submit supplementary budget this month

SEOUL : South Korea’s prime minister stated on Friday the federal government will submit a supplementary budget to the nationwide parliament aimed toward boosting small corporations and the self-employed earlier than the nation’s Lunar New Year vacation from Jan. 31 to Feb. 2.

“The country has decided to draw up a supplementary budget to closely support small business owners and self-employed people by making use of excess tax generated last year and other available financial resources,” Prime Minister Kim Boo-kyum stated, with out disclosing additional particulars.

The announcement comes a month after the parliament accredited a file 607.7 trillion received (US$512 billion) budget for this yr.

(US$1 = 1,186.1000 received)

(Reporting by Joori Roh; Editing by Kenneth Maxwell)

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