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Third extra budget of US$ 29 bil. to be spent on reviving S. Korean economy Updated: 2020-06-03 17:12:33 KST

The third extra budget approved by the government Wednesday is to be used mostly to revive South Korea's economy and to prepare for the post-pandemic economy.
Worth almost 29-billion U.S. dollars, it has four main parts, which are expanding investment capacity, giving financial support for small firms, securing jobs and nurturing growth engines.

As a follow-up, the Ministry of SMEs and Start-ups plans to establish video conferencing facilities at more than 15-hundred sites nationwide, mostly at complexes for venture firms and SMEs.
Mom-and-pop stores will be given more opportunities to sell their products online through a special e-commerce platform called 'Live-Commerce'.

The Ministry of Agriculture, Food and Rural Affairs plans to provide vouchers that people can use to buy produce from farms that have seen their sales decline.
The vouchers will be worth more than 49 million U.S. dollars and will be available for use online and offline.

The Ministry of Employment and Labor will expand its funds for maintaining employment while supporting workers on unpaid leave.
The ministry also secured some 470 million dollars to support freelancers and small business owners.

As for the culture ministry, it unveiled a large-scale plan to install artwork at public places nationwide to help artists who have been affected.
Meanwhile, the health ministry and the ICT ministry said they will spend around 92 million dollars on developing COVID-19 vaccines and more.
Yoon Jung-min, Arirang News.
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