Seoul, June 21 -- Lee Jae Myung, President of South Korea, has introduced a 30.5 trillion won (USD 22.1 billion) supplementary budget proposal aimed at revitalising Korea's flagging economy, reported the Korea Herald, a South Korean English-language daily newspaper, on June 19.

The proposal includes a 10.3 trillion won downward revision of projected revenue, the first such adjustment in five years, the South Korean daily reported.

"Fiscal soundness and adherence to balanced budgeting are important, but the current downturn is too severe for the government to stand by. It is time to put public finances to use," Lee said at a Cabinet meeting on Thursday, the news platform added.

According to the news platform, the president emphasised tw...