Finance Minister Choi Sang-mok announced the government’s plan to propose an additional budget of 10 trillion won ($6.8 billion) to aid recovery from recent wildfires and address “unprecedented tariff shocks” affecting industries. The budget aims to restore damaged areas, enhance wildfire prevention with improved surveillance and helicopters, and support businesses adapting to global trade changes, particularly in artificial intelligence. It will provide grants for small and medium enterprises (SMEs), boost domestic consumption, and offer low-interest loans to small businesses and low-income households. Choi urged the National Assembly to promptly pass the budget to effectively support industries.
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