The health and welfare ministry said individuals can make the request to administrative offices near their homes starting Monday, while businesses that have given workers paid leave can apply to the National Pension Service.
Compensation will be given to all people who have been hospitalized, as well as those that have been in self-quarantine, with the payment being authorized by the infectious disease control and prevention act.
"All applications will be screened to see if the person has faithfully stayed in quarantine and followed rules regarding making contact with others, with a person belonging to a four person family to be paid 1.23 million won if he or she has been in isolation for 14 days or more," the ministry said.
The size of the family and duration of the quarantine will determine the amount paid, with single people given 454,900 won if that person has been in isolation for two weeks.
It said employees will be paid according to how much money they pay their workers, with the max limit set at 130,000 per day.
The government said that asking people to stay quarantined is important for the safety and health of those suspected of having contracted the COVID-19 virus, as well as their families and society as a whole.
As of Saturday morning the country has 638 people in quarantine as they are tested for the virus. Since Jan. 3, South Korea checked a total of 7,519 people with 28 people being found to have been infected and 6,853 turning up to not have caught the virus. The country also released seven people who had been infected with COVID-19, but who have made a full recovery. (Yonhap)