China News Service, June 3, according to Korea International Broadcasting Station (KBS), the South Korean government decided to arrange the third round of additional budget for 2020, with a scale of 35.3 trillion won, the largest ever. This is also the first time that the South Korean government has planned an additional budget for the third round after 48 years since 1972.

  According to reports, the third round of additional budget includes the "Korea version of the New Deal" related projects aimed at overcoming the new crown epidemic crisis and the budget required to expand employment and social safety nets. The South Korean government decided on the budget including the above contents at the state meeting held on the 3rd and decided to submit it to the Congress for consideration.

  Among the 35.3 trillion won, the fiscal revenue correction budget is 11.4 trillion won, and the expanded fiscal expenditure budget is 23.9 trillion won. Financial expenditure includes the budget of the "Korea Version New Deal" project of 5.1 trillion won, of which the "Digital New Deal" budget is 2.7 trillion won, the "Green New Deal" budget is 1.4 trillion won, and the employment stability budget is 1 trillion won. The government has also decided to arrange a separate employment-related budget of 9.4 trillion won.

  South Korean Deputy Prime Minister Hong Nanji said that the additional budget will enable the South Korean economy to overcome the unprecedented crisis due to the new crown epidemic and create new growth momentum in the post-new crown era.

  He also said that in order for the supplementary budget to play a positive role, the execution time and speed are the key. The supplementary budget will be submitted to Congress on the 4th. After it is passed, it will fully implement 75% of the budget within three months.