Over one million small businesses have received a total of eight trillion won in COVID-19 compensation just on the first day of payouts.

According to the Ministry of SMEs and Startups on Tuesday, one-point-three million companies registered for the relief payments from Monday morning, and over eight-point-three trillion won was distributed by early Tuesday morning.

This means over 80 percent of all small business owners and small to mid-sized firms that were eligible to register on Monday have already received their share of government compensation.

More than one-point-six million companies whose business registration numbers end with an odd number are eligible to apply on Tuesday. From Wednesday, applications can be made regardless of their business registration number.