South Korea to Distribute Second Round of consumption Coupons, Targeting Relief for Millions
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A new round of 100,000 won (approximately $75 USD) consumption coupons will be distributed to eligible South Korean citizens beginning September 22nd, aiming to stimulate economic recovery. The Ministry of Public Administration and Security announced the plan at a briefing in Seoul on Thursday,outlining criteria and application procedures for the second phase of the “public life recovery consumption coupon” programme.
Eligibility and Income Thresholds
The program is designed to provide financial relief to a broad segment of the population. For single-person households, an annual income of approximately 74.47 million won (roughly $56,000 USD) would qualify. For a four-person household, earning around 173 million won (approximately $130,000 USD) would qualify.
For dual-income households, the standard is adjusted to account for the additional income. The government will add one person to the current household number when calculating eligibility for thes families. For example, a four-person household with two earners will be assessed as a five-person household for the purposes of the coupon program.
Beyond income, asset levels also play a crucial role.Households with a combined property tax assessment exceeding 1.2 billion won (approximately $2 million USD) in 2024, or those with financial income – including interest and dividends – exceeding 20 million won (approximately $15,000 USD) will be excluded.”The asset criteria are intended to ensure the coupons reach those who genuinely need economic support,” a senior official stated. To illustrate,the official explained that this asset threshold roughly equates to ownership of an apartment valued around 4 billion won (approximately $3 million USD).
Application Process and Timeline
The application window opens at 9:00 AM on September 22nd and closes at 6:00 PM on October 31st. To manage application volume, the government will implement a staggered rollout during the first week (September 22-26), processing applications based on the last digit of applicants’ birth years.
eligible citizens can choose to receive the coupon as a point-based credit or check card benefit, a local “love gift certificate” (available in mobile or card format), or a prepaid card.Credit and check card applications can be submitted through card companies like Nuri House, via mobile apps, call centers, or participating bank branches. Points will be credited to the chosen card the day after application. Local gift certificates can be obtained through local government channels, while paper gift certificates and prepaid cards are available at eupmyeon-dong administrative Welfare Centers.
Military personnel are also eligible and can obtain prepaid cards by presenting active service confirmation at Service Administrative Welfare Centers.
Usage Guidelines and Restrictions
The consumption coupons can be used at most businesses with annual sales under 3 billion won, excluding large retailers, department stores, and entertainment venues.Though, exceptions are made for Hanaro Mart locations in areas with limited retail options, as well as local food stores and consumer cooperatives.
The government clarified that while resident registration is the primary basis for household determination, specific circumstances will be considered. Spouses and children listed as dependents on the same health insurance plan are considered a single household even if they reside at different addresses.Though, parents with separate resident registrations are considered separate households, unless combining their applications would result in greater benefits.
Addressing Potential Concerns and Providing Support
Individuals who believe they have been incorrectly excluded from the program can file an objection through the National Newspaper website (https://www.epeople.go.kr) or at their local Eupmyeon-dong Administrative Welfare Center. Special provisions are in place for babies born between September 13th and October 31st; their guardians must submit proof of birth by the application deadline to ensure eligibility.
Citizens can also sign up for a national assistant notification service through 17 mobile apps, including Naver App, KakaoTalk, Toss, and Nuri House (IPS.go.kr), to receive updates and reminders regarding the program. Those who received the first round of coupons do not need to reapply.
The government anticipates this second round of consumption coupons will provide a meaningful boost to domestic spending and contribute to a broader economic recovery.
