Expansion of Beds and Equipment, Living Support, and Loss Compensation... 725.9 Billion Won Allocated for 4th Contingency Fund

[Asia Economy Reporter Lee Kwang-ho] The government will invest an additional 725.9 billion won in contingency funds to prevent the further spread of the novel coronavirus infection (COVID-19), including expanding hospital beds and equipment, providing living support, and compensating for losses.

The Ministry of Economy and Finance announced on the 10th that the government held a Cabinet meeting and approved the expenditure plan for the general account contingency funds with these details.

Previously, the government executed 104.1 billion won in the first round (emergency quarantine response support such as equipment and operating costs for screening clinics, expansion of inpatient treatment beds, and operation of temporary living facilities for Wuhan evacuees), 5 billion won in the second round (management of Chinese international students, disinfection of national civil service exam sites, etc.), and 77.1 billion won in the fourth round (support for quarantine in Daegu and Gyeongbuk Cheongdo, home care support, etc.).

The main support items to be promoted with this contingency fund include ▲ 112.9 billion won for expanding COVID-19 patient treatment beds, equipment, and quarantine supplies ▲ 167.9 billion won for living support and paid leave for hospitalized and isolated patients ▲ 350 billion won for loss compensation to medical institutions due to quarantine measures ▲ 20.2 billion won for installation and operation support of residential treatment centers in Daegu and Gyeongbuk regions.

Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, said, "Under the recognition that 'there is no economy without quarantine,' we are prioritizing quarantine and safety and mobilizing all available measures, including contingency fund support." He added, "In particular, through this contingency fund, I hope that the residential treatment centers, which have been budgeted, will operate smoothly so that patients in the Daegu and Gyeongbuk regions can receive prompt and safe treatment."

Deputy Prime Minister Hong also urged, "I ask for close cooperation between related ministries and local governments to ensure that the contingency funds, which have been approved weekly recently, are executed timely and effectively according to the purpose of the approval."

This content was produced with the assistance of AI translation services.