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S Korea unveils $12 bn extra budget to help business in Covid-19 curbs

Some 11.5 trillion won will be used to help small business owners and compensate their losses caused by the extension of virus-related measures.

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Reuters Seoul
South Korea unveiled a 14 trillion won ($11.75 billion) supplementary budget on Friday to support the self-employed and small businesses that have taken a heavy hit from extended COVID-19 curbs.

Some 11.5 trillion won will be used to help small business owners and compensate their losses caused by the extension of virus-related measures, the finance ministry said. Another 1.5 trillion won is earmarked to secure COVID-19 treatment pills for 400,000 people and 25,000 hospital beds.

The other 1 trillion won will be used as contingency reserves should the Omicron coronavirus variant spread further and require more support. To finance the extra stimulus,

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First Published: Jan 21 2022 | 8:27 AM IST

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