The government promised an additional 12.7 trillion won ($10.6 billion) in spending to help small businesses hurt by Covid-19 social distancing regulations.
A third universal relief grant has surfaced as a political hot potato. Ruling Democratic Party (DP) presidential candidate Lee Jae-myung is making the pitch. Lee has been a fan of universal handouts since he was the governor of...
A customer shops at a 7-Eleven in Seoul on Tuesday. Thanks to the government's emergency relief grant, sales of meat and fruit have increased.
Applications for the government's emergency relief grants can be filed from Sept. 6 to Oct. 29, and most residents of Korea are eligible, including a few foreigners.
A sign posted at a convenience store in Seoul on Sunday notifies customers that it is accepting emergency relief grant payments until the end of this year. The government's 250,000 won ($210) emergency relief grant application starts Monday.
Almost all Koreans are getting 250,000 won from the government. But they won't be allowed to spend any of it on luxury goods, in big supermarkets or at foreign retailers like IKEA -- or even for a Starbucks Frappuccino .
According to Statistics Korea on Monday, service industries grew 5.7 percent in the second quarter, including wholesale businesses, retail, finance and the logistics and storage industry.
Finance Minister Hong Nam-ki said Monday the government plans to pay more than 90 percent of pandemic grants under the latest extra budget to recipients by the end of September.
Emergency relief grants of at least 250,000 won will be showered on Korean households, except those in the top 20 percent income brackets.
Korea JoongAng Daily Sitemap