The Minister of Planning and Budget, Park Hong-gyun, stated that "swift financial support is necessary to alleviate the difficulties facing people's livelihoods as quickly as possible." According to the Korean budget document, approximately 10.1 trillion Korean won will be allocated directly "to mitigate the burden of rising oil prices," while other measures include supporting exporters and increasing grants provided to local governments. South Korea proposed a supplementary budget of 26.2 trillion won (about $17.1 billion) on Tuesday to ease the burden of rising energy costs on households and the industrial sector amid a supply shortage crisis caused by the conflict in the Middle East. South Korea, the fourth-largest economy in Asia, imports...
