South Korea's Economic Recovery Initiative

In a bold move to stimulate the economy, the South Korean government, under the leadership of Acting Minister Kim Min-jae, has announced the distribution of economic recovery consumer vouchers. Starting from July 21, these vouchers aim to provide financial relief to citizens and support local businesses.

Voucher Distribution Details

The vouchers, available to all citizens residing in Korea as of June 18, offer up to 600,000 won per person. The distribution is segmented into basic support and tailored support based on income levels, with additional benefits for residents in non-metropolitan and rural areas.

Application and Usage

Applications open on July 21 and can be submitted online or offline until September 12. Recipients can choose between credit/debit cards, prepaid cards, or local love gift certificates. The vouchers are designed to be used within the recipient's local government area to bolster small businesses.

Phase Two and Government's Vision

A second phase will offer an additional 100,000 won to 90% of the population, with criteria based on health insurance premiums. Acting Minister Kim emphasized the vouchers' role in achieving economic recovery by stimulating consumption and supporting income.