COVID-19: South Korea imposes travel restrictions, announces additional help to businesses

In a bid to further slow the drastic spread of coronavirus, South Korea has now announced more intense precautionary measures including restriction of foreign travels. South Korean Prime Minister Chung Sye-kyun said on April 8 that the nation would suspend visa waivers for the citizens from at least 88 countries who have already imposed travel bans on South Korea including Australia, Canada, Russia and France. The latest development came as South Korea confirmed at least 10,384 cases of coronavirus with at least 200 fatalities, as of April 8. 

Moreover, to provide assistance to small businesses that have been severely impacted due to global health crisis of COVID-19 infections, South Korean President Moon Jae-in had reportedly said that the government would make $29.5 billion worth cheap loans available for such exporters. Acknowledging that the coronavirus outbreak has taken a toll on businesses and domestic demand, Moon said they should be provided with additional support. According to reports, the South Korean government plans on assisting such businesses by policy banks, tax benefits, among other measures. 

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All these new measures would be an add-on to an already planned economic rescue package by the South Korean government worth $80 billion in March-end to help the companies. Meanwhile, since South Korean government have been widely praised for its effective response to the pandemic, the Korea Health Industry Development Institute will host an online presentation for nearly 400 medical practitioners from at least 13 countries including United States, Mexico, Italy on April 9. This presentation would reportedly include the outline of South Korea’s containment measures that enabled them to record 900 cases per day to 50 per day.

Coronavirus outbreak

Meanwhile, as of April 8, the US has confirmed 400,540 cases with 12,857 fatalities. After originating from China’s “wet markets”, the coronavirus has now claimed over 82,096 lives worldwide as of April 8. According to the tally by international news agency, the pandemic has now spread to 209 countries and has infected at least 1,431,973 people. Out of the total infections, 302,209 have been recovered but the easily spread virus is continuing to disrupt many lives. Major cities have been put under lockdown in almost all countries and the economy is struggling. 

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(With agency inputs)

Image Source: AP