Global Trade Alert
Global Trade Alert

Republic of Korea: Second 2021 supplementary budget worth KRW 34.9 trillion passes at National Assembly

Announcement

24 Jul 2021

On 24 July 2021, the National Assembly passed the 2021 second supplementary budget worth KRW 34.9 trillion.

Source

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Number of interventions

6

0 certainly harmful

6 likely harmful

0 liberalising

List of interventions

Implementation date

24 Jul 2021

Revocation date:

No revocation date

Updated: 24 Jul 2021
State aid, unspecified In force
<p>On 24 July 2021, the Korean National Assembly passed the 2021 second supplementary budget, in which KRW 137 billion (USD 119 million) was reserved for corporate taxi,&nbsp;charter bus, an...
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Updated: 24 Jul 2021
Local content incentive In force
<p>On 24 July 2021, the Korean National Assembly passed the 2021 second supplementary budget, in which they increased the Win-Win Discount on Fisheries Products Plan by KRW 20 billion (USD&n...
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Implementation date

No implementation date

Revocation date:

No revocation date

Updated: 24 Jul 2021
Financial grant
<p>On 24 July 2021, the Korean National Assembly passed the 2021 second supplementary budget, in which more than KRW 1 trillion (USD 875 million) was allocated toward recompensating small and me...
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Updated: 24 Jul 2021
State loan
<p>On 24 July 2021, the Korean National Assembly passed the 2021 second supplementary budget, in which KRW 6 trillion (USD&nbsp; billion) was allocated to a loan scheme that targets Korean s...
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Updated: 24 Jul 2021
Localisation, nes

On 24 July 2021, the Korean National Assembly passed the 2021 second supplementary budget, in which they also passed a KRW 700 billion (USD 594 million) Win-Win National Support Fund scheme. I...

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Updated: 24 Jul 2021
Financial grant
<p>On 24 July 2021, the Korean National Assembly passed the 2021 second supplementary budget, in which KRW 4.2 trillion (USD 3.6 billion) was allocated to&nbsp;the&nbsp;Hope Recovery Fun...
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