Global Trade Alert
Global Trade Alert

Republic of Korea: Second 2022 supplementary budget worth KRW 62 trillion passes at National Assembly

Announcement

29 May 2022

On 29 May 2022, the second 2022 supplementary budget of KRW 62 trillion passed at the Korean National Assembly. The supplementary budget is mainly designed to support businesses affected by pandemic-related restrictions.

 

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Number of interventions

6

0 certainly harmful

6 likely harmful

0 liberalising

List of interventions

0 in force

Implementation date

No implementation date

Revocation date:

No revocation date

Financial grant

On 29 May 2022, the Korean National Assembly passed the 2022 second supplementary budget, in which KRW 23 trillion (approx. USD 18.4 billion) was allocated to the Small Business Compensation for Losse...

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Financial grant

On 29 May 2022, the Korean National Assembly passed the 2022 second supplementary budget, in which KRW 1.6 trillion (approx. USD 1.3 billion) was allocated to increase the budget of the previously lau...

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State loan

On 29 May 2022, the Korean National Assembly passed the 2022 second supplementary budget, in which KRW 1.8 trillion (approx. USD 1.4 billion) was allocated to a Debt Adjustment Program for self-employ...

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Loan guarantee

On 29 May 2022, the Korean National Assembly passed the 2022 second supplementary budget, in which KRW 1.8 trillion (approx. USD 1.4 billion) was allocated to a Debt Adjustment Program for self-employ...

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State aid, unspecified

On 29 May 2022, the Korean National Assembly passed the 2022 second supplementary budget, in which KRW 500 billion (approx. USD 399 million) was reserved for corporate taxi, charter bus, and other non...

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Production subsidy

On 29 May 2022, the Korean National Assembly passed the 2022 second supplementary budget, in which KRW 1.145 trillion (approx. USD 914 million) was allocated to increase the budget of the special feed...

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