south koreas new government has proposed a supplementary budget largely aimed at helping small businesses recover from financial losses caused by the covid19 pandemic the 594trillionwon 46 billion extra budget bill approved thursday by the cabinet after president yoon sukyeol took office on tuesday calls a large portion of the allocated money to be put toward cash handouts and financial support for merchants and small companies hit by pandemicrelated curbs on business activities the ministry of economy and finance said in a statement the ministry expects 37 million small businessesincluding momandpop stores theaters and travel companiesto benefit each business could get up to krw10 million in cash to offset pandemicinduced losses this is koreas second stimulus budget this year after the krw169trillion package from the previous government earlier this year the latest plan also proposes that more covid19 test kits and treatments be prepared for the postpandemic era as the country eases covid19 rules the ministry said it plans to issue no new debt but utilize surplus tax revenue and state funds from the previous fiscal year to finance the additional spending the ministry plans to submit the extra budget bill to parliament on friday for approval