22 April 2020 – Announced additional relief package for businesses and individuals

Intervention Categories: Finance policy and financial aid; Stimulus packages and financial support
Level of Jurisdiction: National

Overview: The Ministry of Economy and Finance announced an additional financial relief package aimed at businesses and individuals. This includes an additional 75 trillion won liquidity injection, on top of the 100 trillion won previously allocated at the 2nd Emergency Economic Council meeting.

Of the 75 trillion won infusion, 35 trillion will be allocated for businesses, and 40 trillion will provide added liquidity to select cash-strapped industries, including the airline, automotive, shipping, and oil refinery industries.

The program also allocates 10.1 trillion won in subsidies and unemployment benefits, of which 0.9 trillion won will go toward small business wage subsidies; 1.9 trillion won to unemployment relief; 3.6 trillion won for the job creation for low-income and young adult groups; and 3.7 trillion won in job seeker benefits and job training.
Full details here: http://english.moef.go.kr/pc/selectTbPressCenterDtl.do?boardCd=N0001&seq=4885