Finance Minister Hong Nam-ki said the government will consider drawing up another supplementary budget. 

Hong made the remark on Friday during a meeting of research institute heads and investment bank experts in Seoul, as he said the government will exert all-out policy efforts to achieve complete economic recovery accompanied by a recovery in employment and stronger inclusiveness.  

Hong said the extra budget will focus on disaster relief measures, including vaccinations, ways to boost domestic demand and employment in the second half, and help those affected by the pandemic, including small business owners and the socially vulnerable.  

Observers say the minister specifically mentioned the socially vulnerable and classes hit hard by the pandemic to draw a clear line with discussions under way about seeking a second round of universal relief payouts.  

He added that the government would be able to draw up another supplementary budget without further issuing deficit-covering bonds as it’s expected to collect more tax revenues.

If it goes through, this would be the second extra budget this year and the sixth overall since the start of the pandemic last year.