Some small business owners hit hard by COVID-19 quarantine policies will be able to claim 80 percent of their losses from related measures in the third quarter of this year. 

The government on Friday announced its decision to compensate 80 percent of losses stemming from business shutdowns and restrictions on operating hours imposed between July 7 and September 30. Losses caused by private gathering bans during the cited period, however, will not apply. 

Previously ruled out small-size enterprises will also be eligible in this latest round of COVID-19 compensation to be doled out from October 29. Applications are set to be accepted from October 27. 

The maximum amount of compensation for each business owner has been set at 100 million won.