South Korea to Provide Tax and Financial Assistance to Downpour Victims


The South Korean government has announced that it will provide all available tax and financial support to those affected by the recent heavy downpour. Finance Minister Choo Kyung-ho said during a meeting with economy-related ministers that the government will concentrate its efforts to help the victims and expedite restoration. The country will also expand support to the agricultural sector in order to limit the impact of the rain on consumer prices. This includes offering discounts of around 30% at local supermarkets for popular agricultural goods, lifting tariffs on 30,000 tons of chicken by the end of August, and providing loans worth 80 billion won for the supply of chicks at local farms. Inflation in the country has been slowing, but the government is keeping a close eye on typhoons and heat waves as they could affect the supply of agricultural goods. South Korea is committed to supporting those affected by the downpour and ensuring that consumer prices remain stable.

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