Finance Minister Hong Nam-ki says it is inevitable for the government to issue deficit-covering bonds in order to draft a supplementary budget. 

Hong made the remark in a meeting with reporters after he presided over an economy-related ministers’ meeting on Monday. He said, however, the government will try to minimize the issuance of such bonds and seek to tap into as much government funds or special account budgets as possible. 

As for the size and detailed usage of the supplementary budget, the minister said they are still under consideration and will be reported to parliament as soon as they are finalized later this month. 

Regarding how much reserve funds the government plans to spend to help restore areas affected by massive wildfires in Gangwon Province, Hong said the government will try to make a decision within two weeks, instead of the usual three weeks, due to the urgent nature of the matter.