• Govt To Support Households With Cash Amid COVID-19 Outbreak

A residential area of low-income families
A residential area of low-income families

The government has decided to offer "emergency financial support" to the bottom 70 percent income earners nationwide.

The move comes as concerns have been mounting over the economic impact of the COVID-19 pandemic, following two earlier emergency rescue packages aimed at helping local businesses.

Sehhyeong Kim reports.


During a third session of the emergency economic council Monday, President Moon Jae-in said the people deserve "compensation" for their difficulties and efforts while participating in quarantine-related measures.

Under the plan, 1 million won will be given to a four-person household with a gross income at or below 70 percent of the total national gross income, which represent about 14 million households nationwide.

Households with three members will receive 800,000 won, a family of two will get 600,000 won, while a single-person household will receive 400,000 won.

The government will also offer fee reductions on four social insurances and temporarily postpone electricity fee payments for low-income families and small businesses.

The government aims to draft a second extra budget worth 7.1 trillion won and get it approved by parliament shortly after the upcoming general elections.

Sehhyeong Kim, eFM News.■

<Photo: Yonhap News>
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