À̹ÌÁö È®´ë [Graphics by Song Ji-yoon]
South Korea approved the fourth extra budget for the year worth 7.81 trillion won ($6.72 billion), allowing low-income individuals and small businesses to start filing for aid applications on Thursday.
The National Assembly on Tuesday passed the supplementary budget bill by a vote of 272 to 10.
The unprecedented economic crisis triggered by the pandemic has prompted Seoul to pass four extra budgets in a single year, the first time it has done so in 59 years. It unleashed a budget of 11.7 trillion won in March, 12.2 trillion won in April and 35.1 trillion won in July.
À̹ÌÁö È®´ë The latest relief would target vulnerable groups whose livelihoods have been disrupted by COVID-19, including self-employed workers, sole proprietors and freelancers. The assistance would be on a first-come, first-served basis.
The government plans to distribute a majority of the aid before the three-day Chuseok holiday, which starts Sept. 30.
The package includes cash payments of 1 million won to businesses with annual revenue of 400 million won or less. Restaurants and other businesses whose operating hours have been curtailed from the social distancing guidelines would receive 1.5 million won. Internet cafes, private academies, study rooms and other businesses that have been forced to shut down would get 2 million won.
By Lee Ji-yong, Chae Jong-won and Kim Hyo-jin
[¨Ï Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]