SEOUL CITY TO PROVIDE ‘RELIEF FUND’

[Anchor Lead]

Some are calling for introducing a basic disaster income for those who have suffered serious losses because of the coronavirus epidemic. The Seoul City government has decided to provide a relief fund to more than one million households in the city.

[Pkg]

Yeongdeungpo Market in Seoul is deserted. It used to be crowded with customers on weekday afternoons, but these days there are more vendors than buyers. A poll conducted last month shows that eight out of every ten vendors have seen their sales plummet significantly, while half of the respondents said their sales had dwindled by more than half.

[Soundbite] HANG KYUNG-SOOK(VENDOR AT YEONGDEUNGPO MARKET) : "Only eatery workers come in the morning, nobody else. Two months ago there were more people at the market. But now it's tough for everyone. We can't even afford to pay the rent."

Small-scale storekeepers, self-employed persons and low-income workers are eligible for emergency living subsidies. One-third of Seoul residents, or some one million 170,000 households earning below 100 percent median income, are entitled to receive up to 500,000 won in living subsidies. They can choose between vouchers or pre-paid cards that can be used until the end of June.

[Soundbite] PARK WON-SOON(SEOUL MAYOR) : "We will provide comprehensive support in the form of immediate cash payments to the most vulnerable in order to prevent economic collapse in families and boost the regional economy."

The Seoul City government has decided to provide subsidies in the form of cash because it believes the central government's extra budget is not enough to overcome the crisis.

[Soundbite] SUNG TAE-YOON(PROF., YONSEI UNIVERSITY) : "Such measures for low-income earners and vulnerable households are expected to produce results by helping them maintain their incomes while promoting consumption."

Seoul residents can apply for emergency subsidies later this month. Eligibility screening will take three to four days.