Daegu City to Invest 3.8 Trillion Won in COVID-19 Vulnerable Groups and Affected Sectors

10,000 Jobs and Emergency Welfare Support for 20,000 Additional Crisis Households Provided

On the morning of January 23, an unnamed elderly woman left 74 bills of 50,000 won notes (3.7 million won) at Daegu City Hall.
[Image source=Yonhap News]

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Dong-wook] Daegu City announced on the 9th that it has prepared a Daegu-type economic quarantine measure worth 3.8 trillion KRW, focusing on 'job creation and emergency welfare support for blind spots,' to support vulnerable groups and affected industries enduring difficult times due to the resurgence of COVID-19.

The scale includes 140.9 billion KRW for expanding emergency damage support, 15.8 billion KRW for strengthening COVID-19 quarantine, and 3.6 trillion KRW for supporting the recovery of the livelihood economy.

The 156.7 billion KRW for emergency damage support and COVID-19 quarantine strengthening consists of 34.3 billion KRW from the existing budget, 105.1 billion KRW secured through net surplus and fiscal efficiency, plus an additional 17.3 billion KRW in indirect support such as rent and tax reductions.

This support measure is the third large-scale support plan following livelihood and survival funds and the Daegu Hope Support Fund. According to Daegu City, the focus is on supplementing government support blind spots, stabilizing the livelihoods of vulnerable groups, strengthening COVID-19 quarantine, and supporting the recovery of the livelihood economy.

The measures to expand emergency damage support include ▲an additional supply of 10,000 Daegu-type Hope Plus jobs ▲support of 13 billion KRW for Buttress Plus funds to cover government support blind spots ▲173 billion KRW for rent reductions and local tax cuts to ease the burden on small business owners ▲additional support for 26,000 crisis households, totaling 140.9 billion KRW.

To strengthen COVID-19 quarantine, the measures include ▲14.1 billion KRW for loss compensation to local medical institutions responding to COVID-19 ▲1.7 billion KRW for quarantine supplies support to daycare centers, religious facilities, movie theaters, traditional markets, etc., totaling 15.8 billion KRW.

Daegu City plans to immediately implement the livelihood economy recovery support measures, which can be enacted through system improvements, in February, while the Daegu-type Buttress Plus funds are scheduled to be disbursed by March.

Daegu Mayor Kwon Young-jin stated, "We will do our best to help citizens endure this difficult time once again and prepare for recovery through this economic quarantine centered on jobs and welfare by mobilizing all available resources."

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