The South Korean government will commence distributing “high-fuel cost relief funds” to 70% of the national population on April 27th, with individual payments ranging from 100,000 to 600,000 won. The funds are intended to alleviate the financial burden on citizens caused by rising fuel and commodity prices linked to the ongoing conflict in the Middle East. Applications and payments will occur in two phases, and the funds must be used by August 31st.
Relief Package Details
The government announced the ‘High Fuel Cost Relief Fund Payment Plan’ on April 11th. Eligibility for the funds is based on residency in South Korea as of April 30th, the day before the additional budget plan was scheduled for review by the State Council.
The first phase of payments, beginning April 27th, will prioritize recipients of basic livelihood benefits, the near-poor class, and single-parent families. The second phase, starting May 18th, will distribute funds to the remaining 70% of the population based on income criteria.
Recipients of basic livelihood benefits will receive 550,000 won, while those in the near-poor class and single-parent families will receive 450,000 won. An additional 50,000 won per person will be provided to those residing in non-capital regions or areas experiencing population decline.
For the remaining 70% of the population, payments will vary by region: 100,000 won for residents of the Seoul metropolitan area, 150,000 won for residents of other non-capital regions, 200,000 won for residents of preferred support areas within declining populations, and 250,000 won for residents of special support areas within declining populations.
Application and Usage
Applications will be submitted through local governments based on the applicant’s registered address as of the eligibility date. Individuals born before December 31, 2007, are eligible to apply individually.
The application and payment schedule is divided into two phases: Phase 1 (April 27th – May 8th) and Phase 2 (May 18th – July 3rd). Those eligible in Phase 1 can apply online or in person. Those not applying during Phase 1, along with the remaining 70% of the population, can apply during Phase 2. However, those who receive funds in Phase 1 are ineligible to apply again in Phase 2.
All funds must be used by 11:59 PM on August 31st, after which they will expire.
Funds can be received via credit or check card, or as a mobile or card-type regional love voucher. The apply of the funds is restricted to the local government jurisdiction of the applicant’s registered address.
The funds can be used at most small business stores with annual sales of less than 3 billion won, excluding certain industries like online shopping malls, delivery apps, and gambling establishments. However, delivery apps are eligible if the transaction is completed in person with a store’s terminal.
Appeals regarding the relief fund can be filed between May 18th and July 17th.
Frequently Asked Questions
When will the high fuel cost relief funds be paid?
Payments will begin on April 27th for recipients of basic livelihood benefits, the near-poor class, and single-parent families. The second phase of payments will begin on May 18th for the remaining eligible population.
Where can I apply for the relief funds?
Applications will be submitted through the local government based on the applicant’s registered address.
What is the deadline to use the relief funds?
All funds must be used by 11:59 PM on August 31st.
As the government responds to economic pressures, will these relief funds be sufficient to offset the rising costs for South Korean citizens?
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