President Yoon Suk Yeol speaks during a meeting before a national prayer breakfast at a hotel in Seoul, Nov. 22. Yonhap

The presidential office said Friday that any reshuffle of the Cabinet or presidential office would require a "significant" amount of time, following reports that President Yoon Suk Yeol might conduct broader personnel changes next month.

In a press conference earlier this month, Yoon said a vetting process for potential candidates is under way to conduct a Cabinet and presidential office reshuffle, as voices for revamping state affairs are growing amid declining approval ratings for his performance.

Speculation grew that the reshuffle could happen as early as next month after his return on Thursday from an eight-day trip to Peru and Brazil for multilateral summits.

"A reshuffle requires thorough consideration of domestic priorities, such as the approval of the budget, as well as external factors like the inauguration of the Trump administration. The verification process also necessitates significant time," a presidential official told reporters.

The official further asked for some "flexibility" in anticipating the timing of the personnel changes.

Meanwhile, the presidential office dismissed the possibility of creating an extra budget aimed at resolving social polarization.

Earlier in the day, the possibility of drawing up a supplementary budget emerged after a ranking presidential official said the government does not rule out an active fiscal role, including an extra budget.

The possible creation of an extra budget could mean a reversal of the Yoon administration's policy to bolster fiscal soundness.

"(We) have not discussed, reviewed or decided on any possibility of an extra budget," the presidential office told reporters.

"Currently, the National Assembly is reviewing next year's state budget. It was a general explanation that state finance should play a role, if necessary," he added.

The finance ministry also issued a statement that it is not considering the possibility of an extra budget proposal for next year. (Yonhap)