South Korean President Lee Jae-myung says he may activate an "Emergency Fiscal Order" to address energy supply shortages

Local time on March 31, South Korean President Lee Jae-myung held a State Council meeting at the presidential office, Cheong Wa Dae, and presided over it, reviewing and approving a supplementary budget bill totaling 262 trillion won (about RMB 118.26 billion). Of this, about 100 trillion won will be used to ease the burden caused by high oil prices. This is the second supplementary budget compiled since the Lee Jae-myung administration was formed. The government plans to submit the budget bill to the National Assembly on the afternoon of the 31st; after it is reviewed by the National Assembly’s Budget and Appropriations Special Committee, it is expected to be put to a vote for disposition at the National Assembly plenary session on April 10. In addition, when discussing the energy supply shortages triggered by the conflict in the Middle East, Lee Jae-myung said in the meeting, “If necessary, the emergency fiscal order stipulated in the Constitution can be activated.” (CCTV News)