Lawmakers are moving to bring charges against Korean crypto magnates for not appearing after being summoned as witnesses to the National Assembly s annual audit regarding the recent Luna debacle.
S. Korea reviews state compensation scheme for business losses over COVID-19
Jan 25, 2021, 09:17 am
Myeongdong, the popular shopping district in Seoul, is quiet./ Source: Yonhap News
AsiaToday reporter Lee Ji-hoon
The Moon Jae-in administration and the ruling Democratic Party (DP) have started the legislative process to allow small business owners and the self-employed to get state compensation for their losses arising from the pandemic. The government, which initially has been at odds, revealed its plan for internal review, showing visible signs of legalization of the bill. However, the fact that there is no special financing plan other than issuing government bonds is deepening concerns of financial authorities amid the nation’s rapidly growing national debt due to its response to COVID-19.
S. Korea reviews state compensation scheme for business losses over COVID-19
Jan 25, 2021, 09:17 am
Myeongdong, the popular shopping district in Seoul, is quiet./ Source: Yonhap News
AsiaToday reporter Lee Ji-hoon
The Moon Jae-in administration and the ruling Democratic Party (DP) have started the legislative process to allow small business owners and the self-employed to get state compensation for their losses arising from the pandemic. The government, which initially has been at odds, revealed its plan for internal review, showing visible signs of legalization of the bill. However, the fact that there is no special financing plan other than issuing government bonds is deepening concerns of financial authorities amid the nation’s rapidly growing national debt due to its response to COVID-19.