2 years ago

S. Korea to draw up fourth supplementary budget aimed at helping the unemployed, children

Arirang News
Arirang News
4차 추경, 청년 구직자 월 50만원 지급…아동돌봄쿠폰 초등생까지 확대

South Korea is planning on releasing even more financial aid to help those affected by the COVID-19 pandemic.
The fourth supplementary budget of the year will help the long-term unemployed as well as those with children,... and there are even plans to help pay a portion of phone bills.
Jang Tae-hyun reports.
The South Korean government is planning on distributing a fourth supplementary budget to help citizens financially amid the COVID-19 pandemic.
"The government will maximize its support with limited financial resources by focusing on the most vulnerable amid the resurgence of the coronavirus, including small business owners and the self-employed."
Almost five-point-nine billion U.S. dollars will be drawn up to support business owners, the unemployed, and those who are deemed to be economically underprivileged.
The budget will also help young people who have been unemployed for a long period of time,... by providing 420 U.S. dollars per month worth of financial support.
However, it has yet to be decided for how long the support will last, and which age ranges will be eligible.
But, 168 dollars worth of childcare aid is also being discussed.
Parents or guardians will be given electric coupons, vouchers or gift cards that can be used like cash.
In the first half of the year, the government provided around 330 dollars, divided over a four-month period to parents with children below the age of seven,... but will now include elementary school students as well.
Meanwhile, people above the age of 13 will get a one-off 17-dollar phone bill discount with the government taking care of the bill directly with the network provider.
The government is speeding up the process so that people will be able to receive the funds before Chuseok Korean Thanksgiving.
The plan is to finalize the details by Thursday and then submit them to the National Assembly by Friday.
Jang Tae-hyun, Arirang News.