South Korea's Lee urges prompt passage of $17 billion extra budget amid Middle East energy crisis

AL-Monitor
Apr 2, 2026
FILE PHOTO: South Korean President Lee Jae Myung speaks during his new year press conference at the presidential Blue House in Seoul, South Korea, Wednesday, Jan. 21, 2026. Ahn Young-joon/Pool via REUTERS/File Photo
FILE PHOTO: South Korean President Lee Jae Myung speaks during his new year press conference at the presidential Blue House in Seoul, South Korea, Wednesday, Jan. 21, 2026. Ahn Young-joon/Pool via REUTERS/File Photo — Ahn Young-joon

SEOUL, April 2 (Reuters) - South Korean President Lee Jae Myung on Thursday urged parliament to promptly pass a 26.2 trillion won ($17.3 billion) supplementary budget to shore up the economy amid "the worst energy security threat" posed by the Middle East crisis.

"Even if the war ends tomorrow, it will take a considerable period of time for the destroyed energy infrastructure facilities in the Middle East to be restored and supplies to run as smoothly as before," Lee told parliament in a televised speech.

Parliament is expected to pass the extra budget by April 10.

The government plans to implement the budget as soon as it is approved by parliament.

($1 = 1,521.6000 won)

(Reporting by Joyce Lee and Jihoon LeeEditing by Ed Davies)