South Korea Rolling Out Local Store Coupons, Not Cash Handouts, Starting July 21
As part of a significant effort to stimulate domestic spending amidst global economic instability, the South Korean government will begin distributing cash handouts to all citizens from July 21. This initiative, backed by a 31.8 trillion-won supplementary budget, will provide a one-time payment of 150,000 won (approximately USD 110) to all South Korean residents as of June 18, aiming to boost local economies through an eight-week distribution period ending September 12. In addition to the universal payment, targeted assistance will be given to vulnerable groups and those living outside of the Seoul metropolitan area. A second round of payments for the bottom 90 percent of income earners is scheduled from September 22 to October 31.
John Q. Hosedrinker