Seoul: The government and the ruling Democratic Party (DP) have agreed to commence a second round of cash handouts starting September 22. This decision was made during a meeting on Tuesday aimed at effectively implementing the distribution of these funds.
According to Yonhap News Agency, the government and DP have decided to exclude high-net-worth individuals from receiving these coupons in the upcoming round and to establish specific criteria for this exclusion. The initiative, known as "consumption coupons," is intended to enhance convenience for residents and bolster local community self-reliance. Rep. Shin Jeong-hoon, chair of the parliamentary interior and safety committee, emphasized the importance of these goals in his opening remarks.
Rep. Shin also proposed the possibility of issuing prepaid cards to military personnel, which could be utilized near military bases. This suggestion aims to extend the benefits of the handouts to military communities. Previously, in July, the government distributed the first round of cash handouts, providing 150,000 won (US$108) to all citizens, with extra support for low-income and single-parent households.
The interior minister has indicated that the second round, scheduled between September 22 and October 31, will offer an additional 100,000 won to the bottom 90 percent of income earners, further targeting those in need of financial assistance.