National Assembly Special Budget and Accounts Committee Plenary Session [Yonhap News]

A supplementary budget bill, intended to support the public affected by the Middle East conflict, passed the National Assembly on the 10th.

This comes just ten days after the government submitted the supplementary budget proposal to the National Assembly.

The National Assembly approved the supplementary budget bill, totaling 26.2 trillion won (based on total expenditure), at its plenary session tonight with 214 votes in favor, 11 against, and 19 abstentions among the 244 lawmakers present.

Some lawmakers from the People Power Party and the Reform Party cast dissenting votes.

The supplementary budget bill maintained the total amount proposed by the government. During the National Assembly's review, approximately 790 billion won was adjusted, with some items being cut and others increased.

The supplementary budget includes a program to provide 'High Oil Price Impact Relief Funds' (4.8 trillion won). This program aims to provide support ranging from a minimum of 100,000 won to a maximum of 600,000 won per person to 32.56 million individuals who fall within the bottom 70% income bracket.

The People Power Party initially argued for a reduction in the relief funds, calling them 'election-buying funds for local elections,' but later shifted their stance to accept the government's proposal during negotiations.

The government plans to disburse the first round of funds this month to basic livelihood security recipients and households in the next income tier. They also intend to expedite payments to the entire bottom 70% income bracket through a task force involving relevant ministries.

The budget for supporting the maximum oil price system was also maintained at the government's proposed 4.2 trillion won. This funding will be used to compensate oil refiners for losses incurred from the implementation of the maximum oil price system.

A budget to temporarily offer a 50% discount on the K-Pass public transportation refund service has also been included.

The budget for K-Pass support was increased by 100 billion won from the government's initial proposal of 87.7 billion won during the National Assembly's review, expanding the scope of support. The refund rate and method for the 'basic plan,' which offers partial refunds for regular public transportation use, have been adjusted. Additionally, benefits for the 'fixed amount plan' (Modu's Card), which refunds expenditures exceeding a certain amount, have been newly added. For the fixed amount plan, refunds will be processed next month, retroactively applied from public transportation usage this month.

The budget for supply support, including subsidies for naphtha import price differences, has been increased by 200 billion won compared to the government's proposal.

Support for fuel cost-linked subsidies for agricultural machinery, for farmers and fishermen, and for alleviating fuel costs for coastal passenger ferries has also been increased by 200 billion won from the government's proposal. An additional 7.3 billion won has been allocated for supporting the purchase of inorganic fertilizers.

Conversely, budget items related to investments in the fund for mid-sized enterprise ventures, the K-Content Fund, the general business for the Naeil Baeum Card, and support for national cultural activities were reduced, as they were deemed to have lower urgency.

This supplementary budget is the second to be enacted since the Lee Jae-myung administration. A supplementary budget of 31.8 trillion won was enacted on July 31st last year, shortly after the new government took office.

The current supplementary budget bill, designed to address the livelihood crisis stemming from the prolonged Middle East conflict, was submitted to the National Assembly on the 31st of last month.

Although the supplementary budget was approved tonight with de facto bipartisan agreement, some lawmakers from the People Power Party raised criticisms regarding specific details during the plenary session.

Rep. Kim Eun-hye of the People Power Party stated during the debate, "The opposition party's requests were not accepted because they were blocked by the ruling party, which holds a numerical advantage. This is a supplementary budget that should have been reduced but was not, and there are budgets that should have been increased for the survival of the people but were denied increases."