Government to Support Small Businesses and Vulnerable Groups Using 3.8 Trillion Won Disaster Fund (Comprehensive 2)

"Fifteen Days Before School Starts, a Crucial Period... Importance of Practicing 'Social Distancing'"

Prime Minister Jeong Sye-kyun

[Asia Economy Reporter Kwangho Lee] The government has allowed local governments to utilize disaster-related funds to support small business owners and vulnerable groups struggling due to the novel coronavirus infection (COVID-19) crisis.

On the morning of the day, the government reviewed and approved a plan to expand the use of disaster-related funds at the Central Disaster and Safety Countermeasures Headquarters (CDSCH) meeting chaired by Prime Minister Chung Sye-kyun at the Government Seoul Office.

Prime Minister Chung said, "This is an unprecedented crisis situation, so we must respond by mobilizing all imaginable means without considering precedents," adding, "The government will allow disaster-related funds, which have limited uses, to be used for small business owners and vulnerable groups specifically for COVID-19."

He continued, "The approval from President Moon Jae-in was completed yesterday," emphasizing, "It is expected that up to 3.8 trillion won of the funds held by the 17 metropolitan cities and provinces can be utilized."

He also urged, "Since these funds are raised from the precious taxes of city and provincial residents, governors should prioritize and use them appropriately to contribute to overcoming the crisis."

Disaster-related funds are funds accumulated annually by local governments to cover disaster management costs. These include disaster management funds and disaster relief funds. Currently, the disaster management funds of the 17 metropolitan cities and provinces amount to 3.8 trillion won, and disaster relief funds total 1.3 trillion won.

Earlier, the Blue House stated regarding the disaster basic income, "It is a matter to be reviewed depending on future domestic and international economic conditions, efforts at the local government level, and public acceptance."

Regarding the postponement of the school reopening to the 6th of next month, Prime Minister Chung said, "It is difficult to ask for further sacrifices from students, but at the same time, it is a desperate situation where we cannot send children to school without ensuring safety."

He added, "To proceed with the school reopening as planned, extraordinary measures involving the participation of the entire nation are necessary," and "Greater sacrifices than the pain endured so far may be required."

Immediately after the CDSCH meeting, at the emergency Cabinet members' workshop, Prime Minister Chung stated, "The next fifteen days before the April school reopening is a critical period to significantly reduce the risk of COVID-19 spread," and emphasized, "It is most important for each entity to practice social distancing, which is the most effective measure, to the fullest extent."

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