The ruling and opposition parties have reached an agreement on a W62 trillion supplementary budget.

The ruling and opposition parties have reached an agreement on a W62 trillion supplementary budget.

According to a governing party official, the government and opposition parties agreed on a 62 trillion won ($49.4 billion) supplementary budget on Sunday, focused mostly at assisting pandemic-affected small merchants and others.

The governing People Power Party’s floor leader, Kweon Sung-dong, said he and his Democratic Party counterpart, Park Hong-geun, had achieved an agreement to deal with the supplementary budget measure at a parliamentary plenary session scheduled to begin at 7:30 p.m.

The competing parties have been at odds over the contents of the government’s projected 59.4 trillion won supplementary budget.

The size of the proposed budget was raised as the two parties agreed to increase financial support for pandemic-hit businesses. (Yonhap)

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