President Moon Jae-in has ordered the swift implementation of the Korean government's second extra budget of this year, passed over the weekend, which prioritizes support for the people who've taken the biggest financial hit in the pandemic.
In a meeting with his top aides on Monday, Moon thanked the National Assembly for passing the bill worth roughly 30 billion U.S. dollars saying it will be of great help to people.
"The extra budget this time is focused on spending for vaccines and anti-virus measures and supporting small business owners who've taken economic damage, and it seeks a recovery in employment and the stabilization of people's livelihoods."
Of the extra budget, over 4 billion dollars will be used to provide relief funds for small merchants that have been hit by the stricter distancing rules.
It will also be used for payments of around 220 dollars each to people on incomes below the 88th percentile.
Moon asked for people's understanding that the government cannot give payments to everyone.
Part of the budget will also be used to purchase COVID-19 vaccines and to add more medical staff, testing and quarantine equipment.
This is the second extra budget of the year and the sixth aimed at addressing the impact of the pandemic.
The extra budget will be mostly financed by excess tax revenue.