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S. Korea's finance minister vows swift use of 2nd supplementary budget, support for local businesses amid 4th wave of pandemic
Updated: 2021-08-05 08:51:49 KST
South Korea's Finance Minister Hong Nam-ki stressed the need to minimize the pandemic-driven downturn and quickly support those hit hard by the pandemic to foster economic recovery.
During an emergency economic meeting on Thursday, Hong said that the country's economic recovery appears to have ground to a halt amid the fourth wave of COVID-19.
In response, he vowed to swiftly use the second supplementary budget as well as ramp up anti-virus measures during August and September.
The minister also noted that the government is looking into additional support measures for small businesses, such as a deferral of tax payments and social insurance premiums in the second half of the year.
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