President Yoon Suk-yeol led his very first Cabinet meeting at the new presidential office in Yongsan Thursday afternoon and endorsed a record 46 billion U.S. dollar extra budget proposal designed to provide compensation to small businesses hit by the pandemic.
There, the new president reiterated the importance of giving them "full compensation" and stressed the need to stabilize prices as well as livelihoods of the people.
The presidential office says coming just two days after inauguration, the extraordinary session demonstrates President Yoon's commitment to swiftly take the financial burden off of those who've suffered the most from anti-virus business restrictions.
The bill will be presented to the National Assembly for approval on Friday.
On Monday, the president is slated to deliver his first budget speech to parliament.