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South Korea to submit supplementary budget this month -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Seoul’s skyline seen at dawn on September 2, 2013, is taken by Lee Jae-Won. REUTERS/Lee Jae-Won

SEOUL (Reuters – South Korea’s prime minister announced Friday that his government will present a supplementary Budget to the nation’s parliament. This budget is intended to support small and independent businesses before February 2nd’s Lunar New Year Holiday.

Kim Boo Kyum, Prime Minister of Korea, stated that the country had decided to create a supplementary budget in order to support self-employed and small-business owners by using excess tax last year. However, he did not disclose further details.

This announcement is made one month after parliament passed a record budget of 607.7 trillion won (512 billion dollars).

($1 = 1,186.1000 won)

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