Small business owners and self-employed people who have been hit hard by a recent resurgence of COVID-19 in South Korea are set to get financial aid from the government under a new 7.8 trillion won extra budget that passed the National Assembly late Tuesday.
Some 3.8 trillion won will go to help 3.77 million people affected by the virus, including 3.2 trillion won to be distributed as New Hope financial assistance for business owners with annual sales of 400 million won or less.
They will receive 1 million won each if they experienced a drop in sales since the resurgence of the virus in mid-August.
Businesses that were suspended due to enhanced social distancing will be granted 2 million won per person, while 1.5 million won will go to each of those whose businesses were restricted, such as restaurants, bars and bakeries.
People aged 16 to 34 and senior citizens aged 65 or above will each receive 20,000 won in mobile service subsidy.
The extra budget will also cover financial assistance for a greater number of taxi drivers and parents with young children than initially proposed by the government.
Parents with pre-school and elementary-age children can receive 200,000 won per child while those with middle school children will get 150,000 won per child.
The extra budget bill, the fourth drawn this year, also includes 1.4 trillion won in spending to sustain nearly 1.2 million jobs.
The supplementary spending plan passed the National Assembly's plenary session in an overwhelming 272-1 vote, with nine abstentions, following a last-minute agreement on the bill's configuration between rival parties.
The government is planning to dole out a majority of the new emergency assistance before the five-day Chuseok holiday, which begins on September 30.
<Photo: Yonhap News>
