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Coronavirus

South Korea proves governments can quickly hand out cash

It took 2 weeks for 97% of country's households to receive emergency funds

South Koreans have been busy shopping at small retailers since the middle of May, when the government began putting cash equivalents into their credit card accounts.   © Reuters

SEOUL -- South Korea was able to disburse relief payments to 97% of all households in about two weeks by using a novel method that offers a lesson to other governments scrambling to rescue economies from the impact of the coronavirus.

The swift process also offers a contrast to that in Japan, where the government in mid-April decided to provide 100,000 yen (about $930) handouts to all residents, many of whom are still waiting for their subsidy.

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