SEOUL, July 24 (Korea Bizwire) — The National Assembly on Saturday gave the nod to a 34.9 trillion-won (US$30.3 billion) extra budget bill aimed at propping up the economy battered by the COVID-19 pandemic. The bill was passed at a plenary parliamentary meeting in a 208-17 vote, with 12 abstentions. The second extra budget this [...]
SEOUL, Sept. 22 (Korea Bizwire) — Owners of small businesses and self-employed people hit hard by a recent resurgence of the new coronavirus in the country will get financial aid from the government under a new extra budget that passed the National Assembly on Tuesday. The 7.8 trillion-won (US$6.7 billion) extra spending aims to cushion [...]
SEOUL, March 30 (Korea Bizwire) — South Korea said Monday it will push for a second extra budget worth 7.1 trillion won (US$5.8 billion) to provide shopping coupons and gift certificates to more than half of the country’s households to help minimize the economic fallout from the spread of the new coronavirus outbreak. The government [...]
Finance Minister Yoo Il-ho (C) holds a meeting with bio-healthcare companies in Incheon on Feb. 4, 2016. (Image : Yonhap) INCHEON, Feb. 4 (Korea Bizwire) – South Korea’s finance minister said Thursday that the government has no immediate plan to draw up a supplementary budget to further stimulate the economy grappling with plunging exports and [...]