ⓒKBS News

The ruling People Power Party(PPP) and the government agreed on a minimum six million won COVID-19 relief payout to three-point-seven million small business owners and self-employed people impacted by quarantine curbs.

Following the first meeting of the new ruling party and the new Yoon Suk Yeol administration on Wednesday, PPP floor leader Kweon Seong-dong said at least six million won will be given out regardless of whether the businesses suffered losses.

The two sides also agreed to raise the compensation's correction factor from the current 90 percent to 100 percent, as well as the quarterly threshold from 500-thousand to one million won.

A temporary grant ranging from 750-thousand to one million won will be handed out to two-point-25 million low-income households.

The second extra budget to finance COVID-19 expenses and stabilize livelihoods is expected to total 33 trillion won or more, which, combined with the previous round, will surpass 50 trillion won.