Prime Minister Lee Nak-yon says the government plans to include in its extra budget plan necessary spending to foster the parts and materials industries in the wake of Japanese export restrictions.

Lee made the remark on Tuesday while chairing a Cabinet meeting. 

The prime minister stressed that amid serious conditions both at home and abroad, efforts to pass the supplementary budget plan can no longer be put off. 

He reiterated calls for the National Assembly to promptly pass the bill during the current session. 

The government and the ruling Democratic Party are seeking to expand the budget bill to include funding that would go towards fostering the domestic parts and materials industries in light of vulnerabilities revealed by Japan’s recent export controls.

Last Thursday, Japan restricted exports to South Korea of fluorinated polyimides, photoresists and etching gas. Tokyo controls between 44 and 94 percent of the global supply of these materials.