Finance Minister Yoo Il-ho said Thursday that if the government decides to draw up a supplementary budget, it should be done as fast as possible in order to maximize its effects.

The minister made the call while speaking to reporters following a meeting that addressed the restructuring of the nation's shipbuilding sector held at Ulsan City Hall earlier in the day.

He said a supplementary budget is all about the timing. He said it should be done fast or otherwise, it's meaningless.

Yoo, who also doubles as deputy prime minister, added that the government is mulling whether to draw up an extra budget related to the restructuring of shipbuilders. He said that if the budget comes after September, its potential efficacy will plunge by half.

The minister also spoke against labor unions of the nation's three major shipbuilders signaling moves to launch a strike. He said there should be no walkouts and the unions must share the pain.