President Moon Jae-in presided over an emergency economic council session on Thursday, where the government decided to draw up a fourth extra budget totaling seven-point-eight trillion won to finance COVID-19 relief.
The president said the budget will be used for industries and jobs hit hardest by the pandemic, such as three-point-eight trillion won set aside to assist some three-point-77 million people, mainly small business owners and the self-employed.
This particular group will be eligible for up to two million won in cash support.
Another one-point-four trillion won will be earmarked to keep one-point-19 million jobs amid the employment crisis stemming from the pandemic.
The government's monthly childrearing support of 200-thousand won for each child under the age of seven has been expanded to also include children attending elementary schools.
People 13 and older will receive a one-time, 20-thousand-won deduction in their mobile service fee.
Moon urged the National Assembly to swiftly approve the budget plan and government ministries to prepare to enforce the budget before the Chuseok holiday in early October.