South Korea

Government Stimulus

1. EXPANSION OF SPECIAL FINANCIAL SUPPORT

• The Special Financial Support for Small Merchants and SMEs expanded to help with business operations.

2. SUPPLEMENTARY BUDGET

• ₩2.4 trillion of emergency support through loans and wage support for small merchants and SME

3. VAT BREAK

• VAT break for businesses with revenues of ₩60 million or less per year.

Sources:

1. http://www.korea.net/Government/Current-Affairs/National-Affairs/view?affairId=2034&subId=6&articleId=52881