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S. Korea's Ruling Bloc to Discuss Emergency Financial Support

Written: 2020-03-29 13:57:28Updated: 2020-03-29 14:19:15

S. Korea's Ruling Bloc to Discuss Emergency Financial Support

Photo : YONHAP News

South Korea's ruling bloc will discuss the issue of providing emergency financial support for citizens on Sunday as part of measures to minimize the economic fallout of the COVID-19 pandemic.
 
The ruling Democratic Party, the presidential office and the government plan to hold discussions on details of the possible financial support, including beneficiaries and the amount.
 
The ruling camp plans to draw a conclusion on the matter during this week's emergency economic council meeting chaired by President Moon Jae-in.
 
The ruling party is reportedly calling for a plan that gives gift certificates or cash support for people in the bottom 70 percent income group.
 
However, the Finance Ministry is said to have proposed a plan to provide one million won to about ten million households whose income is below the median income, which stands at three-point-75 million won for a four-person household.

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