Overview

• The government will provide 100,000 won per eligible person, with applications open Sept. 22–Oct. 31.
• Wealthier households are excluded, including those with a property tax base of at least 1.2 billion won or financial income over 20 million won, with about 2.48 million individuals ineligible; single-person high earners also face cutoffs such as 75 million won in annual pay or June health insurance contributions above 220,000 won.
• Applications can be filed through credit or debit card companies, the National Health Insurance Service or local offices, and vouchers can be received as card reimbursements, local gift certificates or prepaid cards for use mainly at small and local businesses.
• Both the first and second rounds must be spent by Nov. 30, after which any remaining balances expire automatically.
• The first round offered 150,000 won to all citizens and drew applications from 98.9% of the population, with 9.06 trillion won distributed, which officials say coincided with a rise in the Bank of Korea’s consumer sentiment index.