On the 2nd, the Ministry of SMEs and Startups announced that the supplementary budget of 4.8267 trillion won for the first additional budget of 2025 was finalized at the National Assembly plenary session on the 1st.
A total of 769.8 billion won will be allocated to support export small and medium-sized enterprises facing management difficulties due to U.S. tariff measures, and 4.0201 trillion won will be invested in supporting the livelihoods of small business owners affected by wildfires and rising prices. The budget also includes 36.8 billion won to respond to rapid changes in new technologies such as artificial intelligence.
The Ministry of SMEs and Startups plans to make efforts for prompt and efficient execution by establishing swift pre-preparation procedures through prior consultations with related agencies before implementing the supplementary budget.
Oh Youngju, Minister of the Ministry of SMEs and Startups, noted, “A significant portion of this supplementary budget is for support in responding to trade risks for export small and medium-sized enterprises and for the livelihood support of small business owners. Given that our economy is in a critical situation, I will ensure that it is executed as quickly as possible.”