Seoul: The ruling and main opposition parties announced on Monday their agreement to pass a 25 trillion-won (US$16.5 billion) extra budget bill proposed by the government by April 10. This supplementary budget is designed to alleviate the impact of rising oil prices and support small businesses and vulnerable households amid the economic challenges posed by the ongoing conflict in the Middle East.

According to Yonhap News Agency, the floor leaders of the ruling Democratic Party and the main opposition People Power Party (PPP) revealed the agreement as part of a larger plan for April's extraordinary session of the National Assembly. The session is set to commence this Friday, with a budget speech planned for Thursday. The special parliamentary budget committee will conduct questioning and deliberation on April 7 and 8.

Additionally, both parties agreed to hold parliamentary interpellation sessions on April 3, 6, and 13. "Today we are agreeing on the schedule for the April extraordinary session as it relates to the extra budget," stated PPP floor leader Rep. Song Eon-seog. He expressed hopes for comprehensive discussions between the ruling and opposition parties on the details of the extra budget proposal during the budget committee meetings.