April 23, 2020 / 10:27 AM / a month ago

South Korea to provide cash handouts to every household: Finance ministry

SEOUL (Reuters) - South Korea’s ruling party and the government on Thursday agreed to provide cash handouts to every household, not just to families below the top 30 percentile of income as previously announced, the finance ministry said.

The ministry separately said the government will issue additional bonds to fund the cash handout.

Reporting by Sangmi Cha; Editing by Toby Chopra

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