Anchor: The government on Thursday approved a 20-point-two trillion won supplementary budget, the first under President Lee Jae Myung. The package includes some ten-point-three trillion won in nationwide “consumption coupons” to boost spending, with differing payouts depending on income levels.
Our Bae Joo-yon has more. 

Report: The government on Thursday approved a 20-point-two trillion won supplementary budget during a Cabinet meeting. That’s roughly 14-point-six billion U.S. dollars.

The budget includes some ten-point-three trillion won, or nine-point-six billion dollars, in “consumption coupons” for all South Koreans to boost spending. 

The government plans to hand out the coupons in two installments. 

In the first installment, the government will provide to all people 150-thousand won, or roughly 109 U.S. dollars, in coupons. Low-income groups and recipients of basic livelihood benefits will receive additional fees with the former receiving 300-thousand won, or some 217 dollars, and the latter 400-thousand won, or around 290 dollars. 

In the second installment, 100-thousand won, or nearly 73 dollars, in coupons will be further handed out to all people except the top ten percent of income earners. 

Those who reside in the 84 cities and counties designated as depopulated areas will receive 20-thousand won, or 14-and-a-half dollars, more. 

Recipients can get the coupons in the form of local business vouchers, prepaid cards, debit cards or credit cards. 

Payments will begin once income screening is complete.

The budget also includes a one-point-four trillion won debt relief package for one-point-43 million vulnerable  borrowers, which refers to self-employed people with debt.

To supplement the extra budget, the government will issue 19-point-eight trillion won, or some 14 billion dollars, in new government bonds and submit the budget to the National Assembly around Monday. 

In reviewing the extra budget plan during Thursday’s Cabinet meeting, President Lee Jae Myung said it was time to make use of state finances as the government needs to fulfill its role in response to the serious economic stagnation.

Stressing that the public suffered a great deal of pain following the December 3 martial law, Lee called for the extra budget to help stimulate the economy while also recognizing the need for fiscal balance.
Bae Joo-yon, KBS World Radio News.