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Gov't unveils standard in sorting out emergency relief fund recipients over coronavirus

All News 11:12 April 03, 2020

SEOUL, April 3 (Yonhap) -- The government said Friday it will use health insurance premiums as a standard in deciding on the recipients of emergency disaster relief funds as it seeks to help households cope with the economic fallout of the coronavirus outbreak.

In a one-off stimulus program, South Korea plans to offer 1 million won (US$814) to four-person households in the bottom 70 percent income bracket. About 14 million households or 35 million people are expected to be granted the rare aid worth 9.1 trillion won total.

Amid debates over the calculation method for beneficiaries, the government said that health insurance premiums for March will be used to sort out potential recipients for the aid.

South Korea levies health insurance premiums based on an individual's income and the value of property that an individual possesses.

A four-person household can receive the emergency funds in cases where the March premiums paid by salary workers were below 237,000 won, the government said.

The COVID-19 pandemic has prompted the government to prepare for direct payment, widely viewed as basic income, as the protracted crisis has dealt a serious blow to smaller firms and the self-employed, in particular.

Gov't unveils standard in sorting out emergency relief fund recipients over coronavirus - 1

sooyeon@yna.co.kr
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