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S. Korea Provides 1.3 Tln Won in Relief Payouts to Nearly 520,000 Small Biz Owners

Written: 2021-08-18 11:04:45Updated: 2021-08-18 15:30:34

S. Korea Provides 1.3 Tln Won in Relief Payouts to Nearly 520,000 Small Biz Owners

Photo : YONHAP News

The government provided some one-point-three trillion won in COVID-19 relief payouts to nearly 520-thousand small business owners on the first day of payments on Tuesday. 

The Ministry of SMEs and Startups revealed the disbursal figure on Wednesday. It began receiving applications on Tuesday and will continue its efforts through Thursday. 

Of the 518-thousand business owners who received payments on Tuesday, 60-thousand received some 363 billion won for damages incurred by gathering bans, while 242-thousand received 749-point-five billion won for damages due to operation restrictions.

Around 216-thousand owners who are suffering from a management crisis received roughly 158 billion won. 

Those forced to shut down for six weeks or longer can receive up to 20 million won, while those that shut down for less than that can get up to 14 million won.

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