The ruling and opposition parties in the South Korean parliament have agreed to a budget for next year of around 558 trillion won, which is about 500 billion U.S. dollars.
The agreement was reached Tuesday in negotiations between the ruling Democratic Party and the main opposition People Power Party.
They agreed to add about 2 billion dollars for COVID-19 relief and purchases of vaccines.
This addition will be covered by national bonds.
The final amount comes out to more than what the government originally planned for, the first time that’s happened in 11 years.

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