The government of South Korea will host an additional budget measure.

The South Korean government plans to present a supplemental budget measure to parliament later this week to assist Covid-19 pandemic-affected microbusiness owners, according to the finance minister.

Minister of Economy and Finance Choo Kyung-ho said the government devised the additional budget measure to compensate small merchants and self-employed people who suffered a lot during the pandemic during his first meeting with the ruling People Power Party (PPP).

The law will be approved by the Cabinet on Thursday and then submitted to the National Assembly on Friday, according to Choo.

The budget proposal was announced the day before President Yoon Suk-government Yeol was inaugurated.

During the meeting, Rep. Kweon Seong-dong, the People Power Party floor leader, stated that approximately 3.7 million small merchants, self-employed individuals, and small businesses with revenue of less than 3 billion won should be given a cash handout of at least 6 million won (approximately 4,700 US dollars) per person (2.3 million U.S. dollars).

President Yoon vowed to pay pandemic-affected small merchants with over 50 trillion won during his campaign (39 billion US dollars).