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South Korea to pay cash to families, bring in extra budget relief

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South Korea to pay cash to families, bring in extra budget reliefSouth Korea will make an emergency cash payment to most families and draw up a second supplementary budget next month in a bid to ease the drawn-out economic impact of the coronavirus outbreak, President Moon Jae-in said on Monday. Moon, after an emergency meeting with economic policymakers, said an “emergency disaster relief payment” of up to 1 million won ($816) would be made to all households except the top 30% by income. Moon said he would prepare another extra budget for parliamentary approval in April and some small- and medium-sized companies would be exempt from paying partial insurance and utility bills starting this month.

Source: Yahoo.com