SEOUL (Reuters) – South Korea’s finance minister on Tuesday said the government and ruling party will need to provide cash handouts to some households as tightened social distancing policy is causing a downturn in the economy.
“A targeted approach will be more effective” to provide cash handouts, rather than to provide it to every household, Hong Nam-ki said in a televised interview last on Tuesday night.
The government in May provided cash handouts to every household to ease the economic impact of the coronavirus outbreak.
(Reporting by Cynthia Kim; Editing by Sandra Maler)
