Limit Increased from 500,000 to 3,000,000 for Disaster Relief Fund Payments Using Anonymous Prepaid Cards
Amendment to the Enforcement Decree of the Specialized Credit Finance Business Act Passed at the Cabinet Meeting
[Asia Economy Reporter Kwangho Lee] When the national or local governments provide disaster relief funds using anonymous prepaid cards, the issuance face value limit will be expanded from the current 500,000 won to 3,000,000 won.
The Financial Services Commission announced on the 17th that the amendment to the Enforcement Decree of the Specialized Credit Finance Business Act, containing this provision, passed the Cabinet meeting.
The amendment to the Enforcement Decree of the Specialized Credit Finance Business Act, approved on this day, will take effect immediately.
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With the expansion of the issuance face value limit, it is expected that administrative efficiency in executing the national support funds, such as reducing prepaid card production costs, will be improved.
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