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Data: Gov't COVID-19 Relief Shown to Boost Spending

Written: 2020-05-21 12:49:26Updated: 2020-05-21 16:50:53

Data: Gov't COVID-19 Relief Shown to Boost Spending

Photo : YONHAP News

Latest data showed that the South Korean government's coronavirus relief payments have boosted spending.

According to Korea Credit Data(KCD) on Thursday, average credit card sales by small businesses in the second week of May which included May 13, the first day the relief was paid, reached the level from the same week a year earlier.

Sales in seven cities and provinces, including Gyeonggi Province, South Gyeongsang Province and Busan, even surpassed levels from last year.

Businesses in the virus-hit city of Daegu also saw sales rise close to levels in 2019.

The management service provider said credit card sales recovered to previous-year levels for the first time in 12 weeks since the country raised its COVID-19 crisis alert to "serious," adding it expects a further increase this week.

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