On the 9th, President Lee Jae-myung instructed, “Compile a supplementary budget quickly to help the economy recover and boost consumption.”

Presidential spokesperson Kang Yu-jung said in a briefing that President Lee made the remarks while discussing the government's supplementary budget plan and each ministry's implementation plan at the second meeting of the emergency economic task force held at the presidential office in Yongsan.

Kang also said, “The president emphasized that priority should be given to supporting vulnerable groups and small business owners.”

In addition, he said, “I asked them to identify key projects for the supplementary budget and to review and collaborate so that the supplementary budget will have a definite effect.”

Furthermore, President Lee issued instructions to strengthen guidance regarding the application process for living assistance funds for victims of the Itaewon tragedy, which began on the 9th.

Spokesperson Kang said, “President Lee Jae-myung instructed that guidance be strengthened for those eligible for support so that no one misses the application process and is left without support,” adding, “He also urged that additional measures necessary for supporting the victims be reviewed and prepared.”

He also said, “He instructed that the Itaewon tragedy special investigation committee's activities to uncover the truth be carried out swiftly and thoroughly and that the wishes of the bereaved families and victims be fully reflected.”

Meanwhile, during his opening remarks at the Emergency Economic Review Task Force meeting on the same day, the President instructed, “The issue of prices is causing great hardship to our people, so please look into the current situation and report back on possible measures.”

The President said, “I hear that prices have risen dramatically recently. Is it true that a pack of ramen costs 2,000 won?”

Kim Beom-seok, First Vice Minister of the Ministry of Economy and Finance, who attended the meeting, responded, “Due to political uncertainty, prices of processed foods that had been suppressed have risen significantly, particularly in items like beer and instant noodles.”

Kim added, “We are concerned about eggs and chicken, especially chicken, which is imported mainly from Brazil. Highly pathogenic avian influenza (AI) has broken out there, and although there is a one- to two-month time lag, there is a risk of a sharp increase if we respond incorrectly.”

In response, President Lee said, “Nothing happens without a reason, so there must be various factors,” and urged them to find countermeasures.

President Lee mentioned that the meeting would focus on the supplementary budget proposal, but also discuss other measures to revitalize the economy.

He emphasized, “Every hour we spend is worth 52 million hours. I ask you to take special responsibility for how much impact your work has on the world.”

He also said, “In future meetings, you may bring along the relevant vice ministers, directors-general, and even section chiefs if necessary,” hinting at plans to accelerate discussions and implementation.

[News source: Policy Briefing]