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Democratic Party and the government have reached an agreement on the total size of the second supplementary budget this year to be around 33 trillion won. Disaster relief provided through the supplementary budget will be paid only to the bottom 80% of income earners.

Correspondent Han Se-hyun.

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Democratic Party and the government have agreed to organize the second supplementary budget to around 33 trillion won for recovery from the damage caused by COVID-19.

This is the largest supplementary budget in history based on the increase in appropriation.

A total of KRW 3.6 billion will be invested in addition to the KRW 3 trillion previously secured.

[Hong Nam-ki / Deputy Prime Minister of Economy: I would like to inform you that this was organized using additional tax revenue without additional issuance of deficit government bonds, and that we made an effort to strengthen the fiscal role as much as possible.] In

detail, 15 to 16 trillion won in three types of COVID-19 damage support package We plan to allocate KRW 4 trillion to KRW 5 trillion to strengthen vaccine quarantine, KRW 2 to KRW 3 trillion to support employment and livelihood, and KRW 12 to KRW 13 trillion to revitalize the local economy, such as issuing local gift certificates.

Disaster relief, which has been controversial over whether to give to the entire nation or only to the low-income class, has decided to provide cash support only to the bottom 80% of income earners.

Instead, we decided to support the remaining top 20% of high-income earners in the form of credit card cashback that allows them to get a portion of the money back if they use a credit card more.

At the same time, we plan to provide a certain amount of additional support to 3 million people, including low-income basic beneficiaries, the second-income class, and single-parent families.

[Park Wan-joo/President of the Democratic Party Policy Committee: It can be said that it is meaningful to support virtually all national subsidies following the first supplementary budget.] The

second supplementary budget bill will be submitted to the National Assembly the day after tomorrow (1st).

The Democratic Party and the government plan to finalize the supplementary budget bill at the extraordinary National Assembly next month and implement it as quickly as possible.