The South Korean government has officially begun preparations for a fourth round of COVID-19 relief payments for small business owners battered by the pandemic, as well as the entire population.

According to government sources on Tuesday, discussions are underway among ministries on the timing of and eligibility for the payments which are expected to begin between March and April.

This comes after President Moon Jae-in on Monday called for support measures for damages incurred from social distancing up until the government officially adopts a system to compensate the businesses.

The fourth round is expected to be greater in amount compared to the previous second and third rounds that mainly targeted small businesses.

The government could draw up an extra budget of between 20 and 30 trillion won to finance the relief program.