Ruling party seeks to distribute 3rd pandemic relief funds before Lunar New Year's

All News 15:28 November 30, 2020

SEOUL, Nov. 30 (Yonhap) -- The ruling party will push for the distribution of an additional third round of COVID-19 relief funds before Lunar New Year's Day, a senior party official said Monday.

Following the recent resurgence of new coronavirus infections, rival parties are currently discussing ways to source the third emergency relief funds worth about 4 trillion won (US$3.6 billion), expected to be added to the 2021 state budget now under deliberation at the National Assembly.

"In order to hand out the tailored livelihood assistance funds (to deal with) the third wave of coronavirus infections before New Year's Day, (we) will reflect them in (next year's) regular state budget," Rep. Kim Tae-nyeon, the floor leader of the Democratic Party, said during a top party council meeting.

"No matter what happens, the party will finalize the passage of the (2021) budget bill by Wednesday," Kim noted.

According to its internal sources, the ruling party is seeking to design the emergency relief funds to benefit small business owners and self-employed people hit hardest by the tightened social distancing rules in light of the recent virus resurgence.

Through the previous two rounds of emergency handouts in May and September, the government injected more than 22 trillion won to help the country ride out the economic devastation of the pandemic.