South Korea Begins Nationwide Cash Handouts July 21 to Boost Economy

Starting July 21, South Korea will distribute cash handouts to all citizens residing in the country as of June 18 as part of a government initiative to stimulate domestic consumption amid global economic challenges. Each eligible citizen will receive a one-time payment of 150,000 won (about $110), with additional targeted support for near-poverty households, single-parent families, and recipients of the basic living allowance, who will receive up to 400,000 won. To promote balanced regional growth, residents outside the greater Seoul area and those in designated rural and fishing communities will receive extra payments. The handouts, called "consumption coupons," can be received via credit/debit cards, prepaid cards, or local government-issued gift certificates over an eight-week period ending September 12. A second round of payments is planned between September 22 and October 31, providing an additional 100,000 won to the bottom 90 percent of income earners based on income screening. Foreign nationals are generally excluded, but permanent residents, marriage immigrants, and recognized refugees are eligible, with Vice Interior Minister Kim Min-jae emphasizing the program's role in boosting consumption and supporting vulnerable groups.