South Korea will begin distributing cash payments to all citizens on July 21 as part of a government initiative to boost domestic spending. 

According to a joint press briefing on Saturday by the ministries of finance, welfare, and the Financial Services Commission(FSC), the first round of the Lee Jae Myung government's living expense payouts, or "consumption vouchers" for the general public, will be handed out between July 21 and September 12 and will be valid until November 30.

All citizens who were residing in the country as of June 18 will be eligible for the first round, receiving a basic payout of 150-thousand won, or around 110 U.S. dollars, per person.

Members from low-income households and single-parent families will be eligible for 300-thousand won each, while recipients of basic living benefits will receive 400-thousand won each.

Residents outside the capital area will receive an additional 30-thousand won, and those in 84 cities and counties seeing a drastic population decline will get an extra 50-thousand won.

The vouchers will be provided through applicants’ credit or debit cards, in the form of prepaid cards or regional gift certificates, and can only be used within the jurisdiction of the applicant’s registered address.