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Parliamentary Committee Approves Full Central Funding for Consumption Coupon Program

Written: 2025-07-01 15:21:02Updated: 2025-07-01 15:57:57

Parliamentary Committee Approves Full Central Funding for Consumption Coupon Program

Photo : YONHAP News

A National Assembly committee has approved a 13-point-two trillion won, or approximately nine-point-seven billion U.S. dollar, supplementary budget for a consumption coupon program to boost household spending.

Lawmakers on Tuesday reached a bipartisan agreement to remove a provision that would have required local governments to cover part of the cost, instead making the central government fully responsible for the program.

The decision came after concerns that cash-strapped local governments could not afford the added burden.

The budget also includes 600 billion won for local currency programs, also known as regional gift certificates, a signature policy for President Lee Jae Myung.

The proposal now heads to the Special Committee on Budget and Accounts for a final review.

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