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US$46 bil. extra budget endorsed during Yoon's first Cabinet meeting Updated: 2022-05-12 17:15:23 KST


"Please feel free to pitch your ideas. I don't even mind heated debates."

This is how President Yoon Suk-yeol kicked off his very first Cabinet meeting at the new presidential office in Yongsan Thursday afternoon.

"The Cabinet meeting is an important organization designed to review national agenda as established by the Constitution. I hope it can serve as a platform for Cabinet members to actively exchange their views on pending state affairs and not just a meeting that approves agenda."

But, Yoon and his Cabinet did approve a key agenda during their first extraordinary meeting:
a record 46 billion U.S. dollar extra budget proposal designed to provide compensation to small businesses hit hardest by the pandemic.

"Compensation for financial losses incurred during the pandemic must be provided in a timely manner as if we don't put out the urgent flames now, it could lead to even bigger threats to our fiscal health down the road."

The president also stressed the need to stabilize prices as well as people's livelihoods.

The top office says coming just two days after inauguration, the extraordinary session demonstrates the new leader's commitment to take the financial burden off of those who've suffered the most due to anti-virus business restrictions.

Present at Yoon's first Cabinet meeting were two members of the previous Moon Jae-in government - Land Minister Noh Hyeong-ouk and Health Minister Kwon Deok-cheol - to meet the quorum.

"Although the full Cabinet hasn't been appointed, we were able to make a swift decision on the basis of pragmatism and with the help of Cabinet members from the previous administration."

"The Presidential office urged for prompt passage of the bill at the National Assembly. The President will deliver a speech on the bill to parliament next Monday."
Yoon Jung-min, Arirang News."
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