S. Korea to roll out financial support for those hit hardest by COVID-19 next week

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The South Korean government is going to pay out another round of relief funds for people affected by COVID-19.
Last time, everyone got the payments.
But this time, the money will be more targeted, not only to help those most in need but also to save taxpayer money.
Eum Ji-young has the details.
The South Korean government plans to roll out another round of disaster relief funds next week, this time focusing on those most affected by the outbreak.
In a closed door meeting on Thursday, the government and the ruling party agreed to provide the second round of COVID-19 relief funds to businesses and self-employed people worst hit by the pandemic.
"We will consider the extent of difficulties of the self-employed and small business owners including restaurants, cafes and private educational institutes. And we will examine the effect of the current measures and provide stronger financial support for those who are vulnerable."
The First Vice Finance Minister said that the payment is likely to be decided based on the size of the drop in sales of the affected small businesses. The fund will be provided selectively due to the increasing financial burden on tax payers from the government deficit.
The government plans to give each eligible small business owner around $840 U.S. dollars.
The worst-hit include singing rooms, PC rooms and coffee shops.
Meanwhile, the Ministry of Employment and Labor proposed a revised bill on Friday to give financial aid to those businesses that maintain employment for more than 30 days,... with or without paying their employees.
Currently, financial support is only eligible for those businesses who maintain employment for more than 90 days.
The government will also provide tailored financial support for non-permanent workers and laborers with special forms of employment.
Eum Ji-young, Arirang News.

#COVID19 #SouthKorea #financial

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