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National Assembly passes record $512.4 bil. for 2022 budget Updated: 2021-12-03 09:39:25 KST

South Korea's National Assembly on Friday passed the 2022 budget, worth some 512.3 billion US dollars.
That's around 2.8 billion dollars more than the government's initial proposal, and the biggest ever budget.
It reflects increased grants for local governments and compensation for small businesses hit by the COVID-19 pandemic, while reducing the issuance of government bonds, among other things.
Compensation for business losses was raised from a minimum 85 dollars to 425 dollars.
And, the total value of local currency coupons was raised from 5 billion to 25 billion dollars.
The budget for antivirus health care was also increased over 3-fold.
KOGL : Korea Open Government License
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