Seoul, July 5 -- In order to increase domestic consumption, the South Korean government will be distributing cash handouts to its citizens starting from July 21, media reports said.
This came after South Korean President Lee Jae Myung and his cabinet approved a 31.8 trillion-won ($23.3 billion) supplementary budget in the National Assembly yesterday.
According to the plan, the citizens who is residing in the country as of June 18 will receive a one-time payment of 150,000 won, The Korea times reported.
The plan also includes Additional targeted assistance, which will be provided on the basis of income levels.
The single-parent families and the individual in near-poverty households will receive 300,000 won. While the recipients of the ba...