The country's parliament passed an extra budget bill worth of 3.83 trillion Korean won ($3.53 billion), proposed by the government in April, in a plenary session on Monday.

"I'm sure (the extra budget) will be a great help to cut high youth unemployment," said Kim Yong-jin at a Monday's meeting in Seoul, adding that 70 percent of the budget will be spent within two months.

He expects the total amount to spent by the end of this year.

Copyright Reuters, 2018