May 21, 2018 / 3:12 AM / 3 months ago

S.Korea's parliament cuts supplementary budget allocation

SEOUL, May 21 (Reuters) - South Korea’s parliament reduced a supplementary budget to 3.83 trillion Korean won ($3.54 billion) in a plenary session on Monday, said the finance ministry in a statement.

The parliament initially approved a 3.88 trillion won ($3.58 billion) supplementary budget bill on Sunday.

The extra spending by President Moon Jae-in’s government’s aims to boost business subsidies to help reduce high youth unemployment. ($1 = 1,082.7000 won) ($1 = 1,083.4000 won) (Reporting by Dahee Kim, Cynthia Kim Editing by Eric Meijer)

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