Overview

• The National Assembly approved a 31.8 trillion-won supplementary budget on July 5 to fund the consumer handout program
• All citizens residing in South Korea as of June 18 plus permanent residents, marriage migrants and recognized refugees will receive a one-time base payment of 150,000 won
• Individuals in near-poverty households and single-parent families will receive 300,000 won while basic living allowance recipients will get 400,000 won under the targeted assistance plan
• Residents outside the greater Seoul area will receive an extra 30,000 won and those in 84 designated rural and fishing communities will be granted an additional 50,000 won
• Applications run from July 21 to September 12 with payments disbursed via credit or debit cards, prepaid cards or local government gift certificates and a second round from September 22 to October 31 will deliver 100,000 won to the bottom 90 percent of income earners after income screening criteria are announced in September