The ruling Saenuri Party has called for introducing a supplementary budget amid a host of issues stemmed from a prolonged economic slump.
 
Following a meeting with government officials Tuesday morning, Rep. Choo Kyung-ho, vice chairman of the ruling Saenuri Party’s special committee on job creation, said that the party asked the government to set aside an extra budget to address massive layoffs, which will inevitably result from the restructuring of debt-ridden businesses.
 
Giving the Bank of Korea’s monetary efforts as an example, the special committee urged the government to implement proactive fiscal policies as a remedy for the serious problems of youth unemployment and layoffs from corporate restructuring.
 
First Vice Finance Minister Choi Sang-mok said that the government is reviewing what roles fiscal policies can play and the introduction of an additional budget, although he did not give a direct answer to the party’s request.