Lee Jae Myung delivers first budget speech to parliament

South Korea's President Lee Jae Myung on Thursday called on parliament to approve a $22.5 billion supplementary budget aimed at reviving the economy, in his first address to MPs since taking office.

"Timing is everything when it comes to the economy, and now is the time to act," Lee told lawmakers in the main chamber of parliament. "To overcome the downturn and restore livelihoods, they have drafted a supplementary budget totaling 30.5 trillion won," he said, adding the package was designed for swift implementation.