Pohang City Temporarily Eases Emergency Welfare Support System... Lowers Income and Property Criteria

[Asia Economy Yeongnam Reporting Headquarters, Reporter Park Dong-wook] Pohang City, Gyeongsangbuk-do announced on the 18th that it will temporarily expand the emergency welfare support system until July 31 for households struggling due to the economic downturn caused by the novel coronavirus infection (COVID-19).

The emergency support targets low-income households with a median income of 75% or less, such as daily workers and small business owners facing difficulties in livelihood due to unemployment or business suspension caused by COVID-19. The 75% median income criteria are 1,317,896 KRW for a single-person household, 2,243,985 KRW for a two-person household, 2,902,933 KRW for a three-person household, 3,561,881 KRW for a four-person household, and 4,220,828 KRW for a five-person household.

With this expansion of emergency welfare support, the legal standards have been significantly relaxed, including ▲property criteria from 118 million KRW to 160 million KRW ▲deduction rate for living preparation funds from 65% to 100% ▲possibility of re-support within two years for the same emergency reason. Accordingly, the project budget has also increased from 1.5 billion KRW to 10.2 billion KRW.

A Pohang City official stated, "Even applicants for disaster emergency living expenses who are deemed ineligible and those who have received special support projects such as regional employment response can receive support if their financial assets are 5 million KRW or less and meet the selection criteria."

This content was produced with the assistance of AI translation services.