[속보] Passed the plenary session of the ‘4th Disaster Subsidies’ supplementary bill… KRW 15 trillion

On the 25th, the National Assembly passed an additional budget (additional supplement) for the payment of the 4th emergency disaster support fund for the novel coronavirus infection (Corona 19).

The ruling and opposition parties held a plenary meeting this morning, and out of the 259 attending seats, 242 voted in favor, six opposed, and 11 abstained. This supplementary bill is worth a total of 15 trillion won. The size of the 4th emergency disaster support fund, plus the amount secured through adjustment of the existing budget, is expected to reach a total of 20 trillion won.

The ruling and opposition parties decided to expand support for farmers and fishermen who are suffering from a contraction in consumption due to Corona 19 the day before. 300,000 won per household is provided to 460,000 small farmers who own farmland less than 0.5ha.

In addition, 1 million to 5 million won will be provided to small business owners and self-employed persons affected by Corona 19. By subdividing industries, such as the travel industry, where average sales declined by more than 60%, the maximum subsidy was increased from 2 million won to 3 million won. In addition, the scale of support for the performing arts industry has also expanded from 2 million won to 2.5 million won. In addition, special employment and freelance emergency employment stabilization subsidies and corporation-affiliated taxi drivers and chartered bus drivers subsidies were also included in the supplementary draft.

The ruling and opposition parties decided to cut 280 billion won in the supplementary government job project, while the remaining 1.16 trillion won will be financed by restructuring the spending of the existing budget.

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