South Korea's Lee urges prompt passage of $17b extra budget amid Middle East energy crisis
The Korean parliament is expected to pass the extra budget by 10 April
Lee Jae-myung, the presidential candidate for South Korea's Democratic Party, prepares for the second televised debate for the upcoming presidential election in Seoul, South Korea, May 23, 2025. Photo: REUTERS/Kim Hong-Ji/Pool/File Photo
South Korean President Lee Jae Myung on Thursday urged parliament to promptly pass a 26.2 trillion won ($17.3 billion) supplementary budget to shore up the economy amid "the worst energy security threat" posed by the Middle East crisis.
"Even if the war ends tomorrow, it will take a considerable period of time for the destroyed energy infrastructure facilities in the Middle East to be restored and supplies to run as smoothly as before," Lee told parliament in a televised speech.
Parliament is expected to pass the extra budget by 10 April.
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The government plans to implement the budget as soon as it is approved by parliament.
