President Lee Jae-myung has instructed the South Korean government to prioritize the swift preparation of a supplementary budget (supplementary budget), leading officials to work through the weekend to develop this plan. The government's decision comes in response to favorable economic indicators, such as a semiconductor supercycle and a booming stock market, which are expected to generate excess tax revenues. Officials are indicating that the supplementary budget could reach as high as 20 trillion won due to these additional funds.

At a meeting with senior government officials, President Lee emphasized the need for rapid financial intervention to stabilize livelihoods and ensure economic recovery during times of crisis. The government plans to utilize excess tax revenues, particularly from corporate tax and securities transaction tax, rather than incurring additional deficit bonds. As of the end of January, tax revenues had increased by 6.2 trillion won compared to the previous year, bolstered by strong performances in the semiconductor sector and an uptick in stock market activity.

The specific size of the supplementary budget will become clearer after corporate tax filings are made at the end of March. Analysts at KB Securities project that based on current economic trends, the supplementary budget could potentially reach 20 trillion won, supported by increased corporate profits from major companies such as Samsung Electronics and SK Hynix. President Lee has stressed the need for targeted and graduated support to maximize the effectiveness of the supplementary budget, highlighting the government's commitment to addressing economic challenges effectively.