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Gist of proposed extra budget designed to cope with virus fallout

All News 11:00 March 02, 2021

SEOUL, March 2 (Yonhap) -- The following is the gist of the 15 trillion-won (US$13.3 billion) extra budget that the finance ministry proposed Tuesday to cope with the fallout of the pandemic.

1) 8.1 trillion won worth of emergency relief funds
-- 6.7 trillion won will be used to provide emergency funds to smaller merchants hit hard by the COVID-19 pandemic
-- 200 billion won will be used to exempt smaller merchants from electric charges
-- 600 billion won will be provided to support workers with unstable job status
-- 600 billion won will be spent to ease burdens of livelihood costs for vulnerable people

2) 2.8 trillion won for job market
-- 300 billion won will be spent to help sectors hit hard by the pandemic maintain employment
-- 2.1 trillion won will be used to create jobs
-- 200 billion won will be used to help provide job training
-- 200 billion won will be spent to help working moms stay in workforce

3) 4.1 trillion won for antivirus efforts
-- 2.7 trillion won will be used to buy COVID-19 vaccines, support vaccination program
-- 700 billion won will be used to support virus testing, treatment of COVID-19 patients
-- 700 billion won will be spent to compensate losses incurred by front-line medical institutions
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