Japan to Pay 100,000 Yen Per Person to All Citizens... Cabinet Approves Revision

Japanese Prime Minister Shinzo Abe is removing his mask before starting a press conference on the spread of the novel coronavirus (COVID-19) at the Prime Minister's Official Residence in Tokyo on the 17th. (Photo by AP Yonhap News)

[Asia Economy Reporter Geum Bo-ryeong] The Japanese government will distribute 100,000 yen (approximately 1.13 million KRW) in cash per person to all citizens as a measure to respond to the novel coronavirus infection (COVID-19).

According to Kyodo News, on the afternoon of the 20th, the Japanese government held a cabinet meeting chaired by Prime Minister Shinzo Abe and revised the emergency economic measures against COVID-19 that had been finalized on the 7th.

The revision includes a provision to pay 100,000 yen per person to everyone. Previously, the plan was to distribute 300,000 yen per household only to low-income groups whose income had decreased due to the impact of COVID-19. However, due to criticisms that the criteria for selecting recipients were complicated and growing controversy over fairness, the policy was changed to a uniform payment of 100,000 yen per person, accepting the request of the coalition partner Komeito.

Accordingly, the total scale of the COVID-19 emergency economic measures increased from the original 108.2 trillion yen to 117.1 trillion yen.

As of October last year, the total population of Japan, including foreign residents, was approximately 126.167 million. If 100,000 yen is paid per person, a budget of more than 12 trillion yen (approximately 135 trillion KRW) would be required based on a simple calculation.

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