The government has decided to offer relief grants of up to three million won for small business owners hit by the third wave of the COVID-19 outbreak.

Spokesperson Choi In-ho of the ruling Democratic Party said on Sunday that the decision was made during a high-level policy meeting among the government, the presidential office and the party at the National Assembly. 

The ruling bloc decided to offer one million won to all small businesses owners, and provide an additional one million won to stores subject to partial restrictions, and an additional two million won to businesses forced to shut down entirely due to toughened quarantine measures.

The government plans to provide the relief grants within January.

The government also announced that it would raise its tax credits for landlords who voluntarily cut rent for small businesses to 70 percent from the current 50 percent. 

The government will unveil details of the economic relief program on Tuesday after a Cabinet meeting and a government meeting.