National Assembly Passes 12.2 Trillion Won 2nd Supplementary Budget... 'Nth Room Prevention Act' Also Passed

[Image source=Yonhap News]

[Asia Economy Reporter Lee Ji-eun] On the 30th, the National Assembly held a plenary session and passed a supplementary budget bill worth 12.2 trillion won to provide emergency disaster relief funds related to the novel coronavirus infection (COVID-19).

The government had planned to process the supplementary budget bill during the plenary session on the night of the 29th, but due to procedural delays, the session was rescheduled, and at around 12:50 a.m. on the 30th, the bill was approved with 185 votes in favor, 6 against, and 15 abstentions out of 206 members present.

With the supplementary budget approved, the government will push to distribute disaster relief funds to all citizens by mid-next month. The relief funds will be provided to 21.71 million households, with 400,000 won for single-person households, 600,000 won for two-person households, 800,000 won for three-person households, and 1 million won for households of four or more. The total required budget amounts to 14.3 trillion won, including 12.2 trillion won in national funds reflected in the supplementary budget and 2.1 trillion won in local government funds.

The National Assembly also established a legal basis to use the disaster relief funds as resources to overcome COVID-19 if recipients voluntarily choose not to receive the funds or express their intention to donate. If no application is received within three months from the start date of the disaster relief fund application, it will be considered as an intention to donate.

In addition, to support key industries such as aviation that are struggling due to COVID-19, the National Assembly approved an amendment to the Korea Development Bank Act to establish a 40 trillion won Key Industry Stabilization Fund. It also passed amendments to the Act on Special Cases Concerning the Punishment of Sexual Crimes, the Criminal Act, and the Act on the Protection of Children and Juveniles from Sexual Abuse, making possession of illegal sexual filming materials punishable by up to three years imprisonment or a fine of up to 30 million won.

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