28 February 2020 – Second financial support package unveiled of over 20 trillion won

This item is sourced from the CCCSL: CSH Covid-19 Control Strategies List co-ordinated by the Complexity Science Hub Vienna, Austria. We are in the process of gathering further information and aligning taxonomies for these items.

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

Overview: Second financial support package unveiled, of over 20 trillion won including supplementary budget. The package includes 4 trillion won including government reserve funds and policy financing to support disease prevention, local governments, imports of manufacturing supplies and small merchants, 7 trillion won to provide financial and tax support for families and businesses affected, including 50 percent income tax cuts given to landlords for rent reduction and individual consumption tax cuts for car purchases to boost consumption, 9 trillion won of loans, guarantees and investment through financial institutions and public institutions, and supplementary budget to support local economies, as well as disease control. The package will also ensure as many as 7 million masks for people in Daegu City and Cheongdo County. (note: see page 19 of link)
Full details here: https://eena.org/wp-content/uploads/Tackling-COVID-19.pdf