• Govt To Create Another Extra Budget Plan To Buffer Pandemic Losses
Utility bills are seen wedged under the door a shuttered store in Seoul's Seodaemun District. [Photo: Newsis]

Finance Minister Hong Nam-ki said Friday the government plans to propose another supplementary budget worth around 14 trillion won in an effort to support small businesses hit hard by the prolonged pandemic and antivirus curbs.

Hong said the extra budget will be created by tapping into last year's excess tax revenue of 10 trillion won.

The government also plans to provide an additional 3 million won each to merchants who have suffered falls in revenue.

Last year, the government drew up two extra budgets totaling some 50 trillion won to provide support to small business owners and cash handouts to people in the bottom 88 percent income bracket.

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