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S. Korean Parliament Passes 2nd Extra Budget to Finance COVID-19 Relief

#Hot Issues of the Week l 2020-05-03

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ⓒYONHAP News

South Korea's National Assembly on Thursday passed the government's 12-point-two trillion won second supplementary budget bill to finance the government's coronavirus relief payments.

In a delayed vote minutes before 1:00 a.m., 185 of 206 lawmakers cast their ballots for the bill. Six voted against it and 15 abstained.

With the bill now approved, the government is expected to speed up the process of making payments to 21-point-71 million households starting May 13.

Four-person households are eligible for one million won, three-person households for 800-thousand won, two-person households for 600-thousand won, and single-person households for 400-thousand won.

The parliament also passed a separate bill on handling the donated money, authorizing the labor minister to collect the donations and turn them into revenue for the employment insurance fund.

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