Singapore to Distribute 500,000 KRW COVID-19 Relief Fund to All Citizens This Month

Singapore Prime Minister Lee Hsien Loong is seen delivering a national address on COVID-19 measures on the 3rd, broadcasted on TV.
[Image source=Reuters Yonhap News]

[Asia Economy Reporter Lee Chun-hee] The Singapore government will provide all Singaporean adults with 600 Singapore dollars (approximately 510,000 KRW) within this month to overcome the novel coronavirus infection (COVID-19).

According to local media, on the 6th, Heng Swee Keat, Deputy Prime Minister and Minister of Finance, announced this in the National Assembly.

The Singapore government had announced last February that it would provide all Singaporean adults with 100 to 300 Singapore dollars (approximately 85,000 to 256,000 KRW) depending on their grade to overcome COVID-19. Last month, this amount was tripled to 300 to 900 Singapore dollars (approximately 256,000 to 770,000 KRW). The payment was scheduled for August to September.

However, Deputy Prime Minister Heng said on this day that due to the "emergency situation," the payment of 300 Singapore dollars was moved up to this month, and an additional 300 Singapore dollars was added to form the so-called 'Solidarity Payment.' He explained that the government would spend an additional 1.1 billion Singapore dollars (approximately 941 billion KRW) for the additional 300 Singapore dollars payment.

Deputy Prime Minister Heng added that the remaining amount is also scheduled to be paid around June, earlier than the originally planned August to September. Along with this, the 300 Singapore dollars paid to parents with at least one child under 20 years old will also be paid at that time.