South Korea’s new gov’t to compensate businesses for COVID curbs | Coronavirus pandemic

President-elect Yoon Suk-yeol’s transition workforce doesn’t specify how a lot small companies will likely be paid.

South Korean president-elect Yoon Suk-yeol’s authorities will compensate 5.5 million house owners of small companies for losses suffered from COVID-19 curbs, the pinnacle of his transition workforce mentioned on Thursday.

Yoon is predicted to take workplace on Might 10, and the workforce mentioned in an announcement that losses in working earnings suffered by such companies had been estimated at 54 trillion gained ($42bn) due to curbs in the course of the 2020-2021 interval.

It didn’t say precisely how a lot could be paid, nonetheless, or state the scale of a supplementary funds that’s anticipated.

South Korea lifted nearly all pandemic restrictions aside from a masks mandate earlier this month as a part of the nation’s transfer in the direction of residing with the virus.

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