South Korea unveils supplementary budget to cushion Covid-19 effects

South Korea has unveiled a 14 trillion won supplementary budget to support the self-employed and small businesses that have taken a heavy hit from extended COVID-19 curbs.

The country’s finance ministry said 11.5 trillion won will be used to help small business owners and compensate their losses caused by the extension of virus-related measures.

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.