(LEAD) Seoul to spend 327.1 bln won to support virus-hit households

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SEOUL, March 18 (Yonhap) -- The Seoul metropolitan government said Wednesday it plans to spend 327.1 billion won (US$264.7 million) to provide financial support to its residents as part of emergency anti-virus measures.

"The city's residents' everyday lives have come to a stop, and the economy has also come to a stop. Some residents say (the situation) is tougher compared to the Asian financial crisis," Mayor Park Won-soon told a press briefing.

"(The city) considers this an unprecedented emergency and has decided to utilize every possible resource."

Under the plan, the city will pay up to 500,000 won to households whose income is below the median income but are not eligible for separate funds that will be provided from the extra budget bill passed late Tuesday.

In 2020, the median income for a single household stood at 1.8 million won and around 3 million won and 4.7 million won for two-person and four-person households.

The exact amount, which will be distributed via mobile gift certificates or cash cards, will vary according to the number of family members.

Households with one of two family members will be paid 300,000 won, while those with five family members will be paid 500,000 won, according to the city government.

The city government estimated up to 1.2 million households to benefit from the scheme if every eligible household applies, anticipating the plan to help small business owners. as well as temporary and part-time workers and freelancers.

The city, at a population of 10 million, has so far reported 270 cases of the new coronavirus, according to government data.

mlee@yna.co.kr
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