Newly Added Recipients Expected to Receive Payments from April to Early May
'National Consolation Payment' Controversy Likely to Continue
[Asia Economy Reporter Jang Sehee] The government's 4th disaster relief fund, prepared to respond to the damage caused by COVID-19, is scheduled to be distributed from the end of this month.
According to the Ministry of Economy and Finance on the 6th, the ministry is preparing execution plans with each department to ensure there are no delays in distributing the 4th disaster relief fund.
Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, stated, "If the supplementary budget is approved by the National Assembly around mid-March, the government will prepare for execution in advance so that payments can be made immediately upon confirmation."
However, those who previously received benefits are expected to receive payments quickly in March, while newly added recipients will likely receive payments in April or early May due to additional verification of income and other factors.
According to the supplementary budget announced by the government, the budget totals 15 trillion won, including emergency damage support (8.1 trillion won), emergency employment measures (2.8 trillion won), and quarantine measures (4.1 trillion won).
Among these, the Small Business Support Fund Plus will provide up to 5 million won to 3.85 million small business owners. Vulnerable groups such as special employment workers and street vendors will also be eligible for support payments.
The "National Consolation Fund" mentioned by President Moon Jae-in is also expected to become a subject of controversy. A Ministry of Economy and Finance official responded, "There is heated debate in the political sphere regarding payments to all citizens, but currently, we are focusing all efforts on distributing the 4th disaster relief fund."
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