SEOUL - South Korea's government on Friday proposed 12.2 trillion won ($8.6 billion) for a supplementary budget amid rising trade uncertainties, caused by the US tariff imposition.

The Ministry of Economy and Finance said in a statement that concerns emerged about serious damage to domestic industries and companies on the back of "unprecedented tariff shocks."

It noted that the extra budget was aimed at reducing the burden on exporters and other companies affected by the US tariff imposition while enhancing the competitiveness of high-tech strategic industries, such as artificial intelligence (AI) and semiconductors.

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To alleviate trade risks and support the industries, 4.4 trillion won ($3.1 billion) was earmarked.

The supplementary budget included 4.3 trillion won ($3 billion) to bolster the faltering domestic demand and support small business owners and 3.2 trillion won ($2.3 billion) for disaster response and restoration efforts following the deadly wildfires in the country's southeastern areas.

Bank of Korea Governor Rhee Chang-yong said Thursday that the supplementary budget would raise the country's economic growth rate by 0.1 percentage point this year.

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The government planned to submit the extra budget bill to the National Assembly early next week.