South Korea’s Acting President Han Duck-soo convened an emergency Cabinet meeting to review and approve a proposed $8.4 billion supplementary budget, aimed at responding to a series of national challenges ranging from natural disasters to economic innovation.

The proposal, which exceeds the initial $7 billion estimate, reflects the government’s urgent response to evolving needs across multiple sectors. According to Han’s office, the expanded budget includes:

• $2 billion dedicated to wildfire recovery and disaster response

• $2.8 billion to strengthen trade competitiveness and fund artificial intelligence (AI) initiatives

• $2.8 billion in support for small business owners still grappling with economic hardship

“This supplementary budget is not just a fiscal measure it’s a lifeline for our economy and our people,” said Acting President Han during the meeting.

Once approved by the Cabinet, the proposal will be submitted to the National Assembly for legislative review and final approval.

The budget reflects South Korea’s broader efforts to balance emergency relief with long-term economic strategy, reinforcing its commitment to technological leadership while ensuring recovery for its most vulnerable citizens.