Protecting Public Safety

South Korean Government Announces 0ver 20 trillion won Support Package to Respond to COVID-19 Outbreak - Feburary 28, 2020

Spending to be made to do the following: 10 AIMS.

Protecting Public Safety - 01. Support a careful and proper disease control and prevention. 02. Provide as manu as 7 million masks for people in Daegu City and Cheongdo County

Supporting Economic Sustainability

Supporting Economic Sustainability

03. Promote the lowering of commercial rents by providing landlords with a 50 percent income tax break for the discount in the first half

04. Provide a VAT break for businesses earning 60 millon won of less a year

05. Help small merchants and SMEs with their business operation: Considerably expend the Special Financial Support for Small Merchant and SMEs2

Stimulating Economic Activity

Stimulating Economic Activity

07. Increase the issuance of local gift certificates this year by 3.5 trillion won to help local economies and traditional markets

08. Give parent employees up to 5 days of childcare leave along with the pay of 50,000 won per day

09. Promote consumption: Give a 70 percent individual consumption tax cut for car purchases, and a 10 percent refund for the purchases of high energy-efficiency home appliances

10. Promote consumption by issuing discount coupons to be used for purchasing cultural events and farm products, as well as for tourism expenses and paychecks