New data finds that despite the COVID-19 pandemic, household income and spending both grew on-year in the second quarter. 

According to a Statistics Korea survey of household trends released on Thursday, a household’s average monthly income reached nearly five-point-three million won in the April to June period. That’s up four-point-eight percent from the same period last year.  

The on-year surge came mainly thanks to a jump in transfer income, including COVID-19 relief payouts.  

Transfer income, which refers to money from the government in the form of benefits or subsidies, amounted to 985-thousand won a month per household in the second quarter, up a whopping 80 percent from a year ago.  

Also during the second quarter, monthly spending by households of two or more members grew one-point-four percent to some three-point-nine million won, also thanks to relief payouts.