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South Korea President Moon Jae-in said on Wednesday said that the government has pledged to roll out a new supplementary budget as well as increase subsidies in a bid to save businesses in Korea.
The fourth-largest economy in Asia had released two supplementary budgets amid the COVID-19 outbreak.
In a policy meeting, Moon said that businesses will be aided with a ₩40 trillion ($32.4 billion) fund. Meanwhile, citizens who had lost jobs will be eligible for a ₩500,000 subsidy for three months.
The previously announced fiscal package of ₩100 trillion will be raised to ₩135 trillion in order to aid companies with low credit ratings.
Moon furthered that the government will aim to preserve the nation’s key sectors with its ‘key sector stabilization fund’. These sectors are yet to be specified.
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South Korea on Wednesday announced that it would scale back its plans to impose capital gains taxes on stock investments after numerous complaints from retail investors. However, taxes will, instead increase for top earners as part of changes ...
The euro reached its highest level since early March after the European Union agreed on a deal for a massive stimulus package to support the bloc’s economy from the coronavirus pandemic. The deal was finalized after a round of compromises ...
European new car registrations fell in June year-on-year, but showed some improvement when compared to May 2020 as lockdown measures continue to loosen across the region, Tuesday’s industry data showed. In June, passenger car sales were ...
KYC Policy