Photo : YONHAP News
President Lee Jae Myung called for an extra budget to support small business owners and financially distressed companies in the wake of the crisis in the Middle East.
Presiding over a Cabinet meeting on Tuesday, Lee said the country’s future depends on how well it makes use of a crisis situation, and called for an accelerated transition to alternative energy sources.
In an apparent bid to support his call for the extra budget, the president said he anticipated that this year’s tax revenue would exceed previous estimates.
Lee then instructed officials to mobilize all available national capacity to minimize the impact of external shock and consider additional means of support, such as a cap on oil prices, adjustment of energy taxes and direct assistance to consumers.
The president said stabilizing consumer prices amid soaring oil was the most pressing task and urged officials to promptly ease market anxiety and the public’s financial burden.