Republic of Korea: Support for Public Welfare

Submitted by mmarquez on Tue, 03/24/2020 - 14:36
Body

ncov.mohw.go.kr (19.03.2020)

Measures include:

  • 4 months worth of local gift certificates (+1,242 billion won) for beneficiaries of livelihood, medical, residential, and educational benefits (13.77 million households) and legally displaced (300,000 households) * Total amount of 4 months per single household: (livelihood, medical care) 520,000 won / (residential, educational, secondary) 400,000 won
  • Local gift vouchers (100,000 won per person per month) for 4 months (+1.5 trillion won) 20% of the incentive (incentive) support when receiving 30% of the remuneration for the elderly job project participants with local gift certificates (+1281 billion won)
  • Emergency livelihood (11.9 million households) is provided to low-income households in crisis, such as unemployment and closed business (+200 billion won)
  • Reduction of 50% of health insurance premiums for 3 months for the lower 20% of health insurance premiums, 50% reduction to the lower 50% of health insurance premiums in special disaster areas (+2,656 billion won)
  • To increase the temporary transition to home care for children in daycare centers and kindergartens, increase the home care allowance budget (+271 billion won)

As the additional budget was finalized, the total expenditure of the Ministry of Health and Welfare increased from 82,526.9 billion won to 86,1944 billion won in 2020. Along with this, a reserve of 883 billion won has been organized and executed to expand the prevention and treatment system, and plans to secure additional reserves if necessary. The Ministry of Health and Welfare will make thorough preparations to promptly execute the supplementary budget and reserves, and will actively work to strengthen corona19-related infectious disease response capabilities and support the livelihood economy.

Regions / Country
Global challenges
Document Type