SEOUL: South Korea unveiled a 14 trillion won supplementary budget on Friday to support the self-employed and small businesses that have taken a heavy hit from extended COVID-19 curbs.
Another 1.5 trillion won is earmarked to secure COVID-19 treatment pills for 400,000 people and 25,000 hospital beds. To finance the extra stimulus, the government will issue 11.3 trillion won worth of treasury bonds and utilise 2.7 trillion won from public fund reserves.The extra budget, which will be submitted to parliament on Monday, comes at a time when the ruling Democratic Party is struggling to recover public support just weeks ahead of the country's 2022 presidential election.
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