The government, presidential office and ruling camp agreed to work quickly to pass the six-point-seven trillion won supplementary budget bill and execute more than 70 percent of it within two months. 

The ruling Democratic Party’s chief policymaker, Cho Jeong-sik, revealed the agreement on Wednesday during a press briefing held shortly after an economic policy meeting at the National Assembly.

He said the meeting’s participants also agreed to mobilize all possible means to boost exports and resuscitate private investment. Among such means mentioned were expanded investment toward public firms and tax incentives.

Cho stressed that investment projects worth ten trillion won or more will be actively pursued and stronger efforts will also be made toward breathing new life into domestic tourism and consumption. 

Also in the second half of the year, the government, presidential office and ruling camp will seek to expand jobs for the elderly and low-income households, slash transportation, education, housing, medical and communications fees as well as raise unemployment benefits.