ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Economy

South Korea budgets $6.6bn for fourth round of coronavirus aid

With cases in triple digits, targeted support aims to offset curbs on businesses

The South Korean government tightened restrictions on businesses in late August as coronavirus cases jumped to more than 400 a day.   © Reuters

SEOUL -- South Korea on Thursday drafted a fourth supplementary budget worth 7.8 trillion won ($6.57 billion) to provide financial support for businesses hit by government efforts to curb a recent resurgence in coronavirus cases.

About half the budget has been earmarked for cash payments of up to 2 million won, or about $1,700, to each of 2.91 million small businesses and self-employed workers. The remainder will fund support for freelancers having trouble making ends meet, as well as expanded child care assistance covering elementary school-age children. The government aims to begin payments this month.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more