Support plans for small businesses, EV buyers

Economic stimulus: A clothing store in Mokpo, South Korea. The country’s government plans to provide vouchers for purchases at small businesses and boost EV sales. — Bloomberg

SEOUL: The government and ruling party say they plan to allocate over 5.5 trillion won or about US$4.1bil for measures to improve people’s livelihoods, including bigger discount coupons for small businesses and subsidies for electric vehicle (EV) users.

The announcement comes as the Democratic Party of Korea has upped the ante in its pledges and policies to improve people’s livelihoods, with the main opposition’s Lee Jae-myung re-elected as the party’s leader in a landslide victory last Sunday.