S.Korea's Moon says to prepare third supplementary budget, hike subsidies to keep jobs

South Korea President Moon Jae-in said on Wednesday the government will prepare a third supplementary budget and sharply increase subsidies to keep more Koreans in jobs through the course of the coronavirus outbreak.

In a policy meeting with economic chiefs, Moon said a 40 trillion won ($32.4 billion) fund will be created to aid businesses keep jobs, while those who recently lost jobs from temporary positions or freelance work will be eligible for a 500,000 won subsidy for three months.