Han urges fast budget action

Mar 19, 2026, 10:51 am

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Democratic Party floor leader Han Byung-do attends a policy coordination meeting at the National Assembly on March 19.

Han Byung-do called for swift execution of a supplementary budget and expedited passage of exchange rate-related legislation, citing growing economic risks from the Middle East crisis.

Speaking at a policy coordination meeting at the National Assembly, Han said the government and parliament must act preemptively to cushion the impact of external shocks.

“The effects of the Middle East situation are becoming increasingly serious,” he said, stressing the need for rapid policy responses.

Han emphasized that support should be focused on vulnerable groups most affected by rising energy prices, including low-income households, small business owners, small and medium-sized enterprises, and farmers.

He noted that Lee Jae-myung had already instructed the government to prepare an emergency supplementary budget, with submission expected by the end of March. “The Democratic Party will shorten the review process as much as possible to ensure swift execution,” Han added.

Han also highlighted sharp market pressures, including the Korean won weakening to around 1,500 per dollar and oil prices approaching $100 per barrel.

To stabilize currency markets, he urged immediate passage of the so-called “three exchange rate stabilization bills,” which include tax incentives to encourage repatriation of overseas assets through domestic accounts.

“These measures are necessary to strengthen foreign exchange supply and reduce volatility,” he said, calling for prompt legislative action.

#Han Byung-do #Democratic Party #supplementary budget #exchange rate law