S.Korea fin min says 4 trln won extra budget will be proposed

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SEOUL, March 15 (Reuters) – South Korea’s finance minister on Thursday said the government will propose a supplementary budget of about 4 trillion won ($3.76 billion) to boost jobs.

About 2.6 trillion won of the extra budget will be financed by excess tax revenue from last year, while another 1 trillion won will come from public funds managed by state-owned companies, Kim Dong-yeon said at a news conference in Seoul.

Kim added that the government won’t be issuing additional bonds to fund the extra budget. ($1 = 1,064.4900 won) (Reporting by Cynthia Kim; Editing by Kim Coghill)

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