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COVID-19 relief funds help restart spending in S. Korea

2020-05-26 17 Dailymotion

재난지원금 얼어붙은 소비에 '온기' 불어넣나...지원금의 91%•대상 가구의 95% 지급<br /><br />The COVID-19 emergency relief funds are boosting consumption at traditional markets and mom-and-pop stores in South Korea.<br />More people seem to have begun going out to spend the money at local stores.<br />Yoon Jung-min reports.<br />Traditional markets around South Korea have been bustling with customers recently as more people are going to these markets to spend their COVID-19 emergency relief funds.<br />The funds are frequently used at local markets, mom-and-pop stores, and convenience stores,... helping boost consumption, which had been dampened by the pandemic.<br />"Our customers use the relief funds a lot. Some buy peanuts and other products twice as often as usual. The relief funds are helping our sales and activating customers."<br />"With the majority of people in South Korea having received the relief funds, local markets and stores say they have seen sales start to pick up thanks to the aid."<br />Local supermarkets are also seeing an increase in customers,... as more people have started opening their wallets to spend the relief funds.<br />"It is effective. Our shop has seen sales increase by 20 percent. Customers use the funds a lot and they often ask if they can use the relief funds here."<br />More than nine out of 10 households in South Korea have received COVID-19 emergency relief funds over the past three weeks.<br />The safety ministry said Tuesday that almost 11-billion U.S. dollars of funds, or some 91 percent of the total amount had been handed out by May 25th.<br />So far, nearly 95 percent of the total households eligible for funds have received the aid.<br />Most households received the funds in the form of card points,... while others got cash or vouchers.<br />With the government's relief funds circulating in the market, the country expects consumer sentiment to gradually pick up again after the impact of the pandemic.<br />Yoon Jung-min, Arirang News.<br />

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