SEOUL: South Korea will draw up a 7.1 trillion won ($5.80 billion) second supplementary budget to fund emergency cash payments to many families to ease the fallout from the coronavirus outbreak, Finance Minister Hong Nam-ki told a briefing on Monday.
The country plans to spend some 9.1 trillion won for "emergency disaster relief payment," a one-time support measure, which will help shore up domestic demand and economic growth.
Hong said the government would have to issue deficit-covering bonds to at least partially fund the second budget. - Reuters
