Bottom 70% Households Eligible for Payments
The South Korean government has decided to draw up a 7.6 trillion won supplementary budget to hand out emergency disaster relief payments to some 15 million households suffering from the impact of the COVID-19 outbreak.
Eligible for the relief payments are households in the bottom 70 percent of the income ladder.
The government plans to approve the extra budget bill at the Cabinet meeting on April 16 to submit it to the National Assembly.
The 7.6 trillion won budget represents an increase of 500 billion won from the government's earlier estimate late last month.
Under the plan, one million won will be given to each household with four or more people that rank in the bottom 70 percent of gross income.
Families with taxable assets exceeding 900 million won or financial income of 20 million won per year will not benefit from the relief aid plan.