The government has started accepting applications for the first round of cash payments under a program to boost private consumption and stimulate the economy.
The Ministry of the Interior and Safety said Monday that it will accept applications both online and offline for about eight weeks from 9 a.m. Monday through 6 p.m. on September 12 for the first installment of the Lee Jae Myung government’s “consumption vouchers.”
All citizens in the country are eligible for an initial payment of at least 150-thousand won, or around 110 U.S. dollars, per person.
Members of low-income households and single-parent families are 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 cities and counties seeing a drastic population decline will get an extra 50-thousand won.
The vouchers will be issued the day after the applications are submitted and will be valid until November 30.