Nat'l Assembly Passes Massive Supplementary Budget to Cope with Coronavirus

The National Assembly on Tuesday passed a massive supplementary budget bill as the coronavirus outbreak wreaks havoc on the economy.

After a marathon debate over the total amount of spending, ruling and opposition parties approved the government's initial proposal of W11.7 trillion and agreed to use W3.1 trillion of it to alleviate the impact of coronavirus (US$1=W1,241).

Some W1 trillion will be put towards Daegu and North Gyeongsang Provinces, which have been the hardest hit, and the rest will be allocated to support the self-employed and small-business owners.