S. Korea to roll out third round of 'disaster relief funds' worth US$ 8.5 bil. from January

580만명에 9.3조 지원…소상공인에 100만~300만원South Korea plans to roll out a third round of COVID-19 relief funds in January... to help small businesses and workers that have been put at risk in the pandemic.A payment of at least a million won, or about 900 dollars, and up to three times that ...will be coming to small businesses across the board.Min Suk-hyen reports.South Korea will distribute another round of disaster relief funds to support various businesses and workers across the country.Deputy Prime Minister Hong Nam-ki said on Tuesday that the new stimulus package was carefully designed to help ease financial difficulties brought on by the pandemic."A total of 9-point-3 trillion won has been drawn up to support some 5-point-8 million who are expected to benefit from the stimulus package."Under the latest plan, five-point-six trillion won, or around 5 billion U.S. dollars, will be used to support small business owners and the self-employed... deemed to be among the hardest hit by the pandemic.About one million Korean Won, or roughly 900 U.S. dollars, will be given to all small business owners across the board. Those who have had to temporarily close or restrict their business hours due to new virus measures will receive more.Owners of bars, singing rooms, and gyms which were forced to shut will be given up to 3 million Won, and restaurants and cafes operating at restricted hours will get 2 million Won.The stimulus package also includes low-interest loans for small business owners as well as tax incentives for landlords who cut monthly rents for their tenants.Similarly, at-risk workers, such as freelancers, delivery drivers, and insurance planners will also receive cash payments.Those who received earlier support will get about 450 dollars, while first-time aid receivers will get double that amount.An additional 730 million dollars will be used for COVID-19 testing and treatment.And the remaining 2-point-7 billion dollars will be tailored toward supporting specific groups such as families who need money for child support, as well as individuals and industries which have suffered losses in income amid the pandemic.The plan is expected to be approved during a Cabinet meeting next Tuesday and distribution will begin from January 11th.Min Suk-hyen, Arirang News.