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South Korea plans for coronavirus cash handouts for second time: finance minister

SEOUL (Reuters) - South Korea’s finance minister on Tuesday said the government and ruling party will need to provide cash handouts to some households as tightened social distancing policy is causing a downturn in the economy.

“A targeted approach will be more effective” to provide cash handouts, rather than to provide it to every household, Hong Nam-ki said in a televised interview last on Tuesday night.

The government in May provided cash handouts to every household to ease the economic impact of the coronavirus outbreak.

Reporting by Cynthia Kim; Editing by Sandra Maler

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