8.1 Million People Increased Spending in October, Receive an Average Refund of '48,000 Won'... Payment on the 15th

[Sejong=Asia Economy Reporter Son Seon-hee] Approximately 8.1 million people whose average monthly spending increased compared to the second quarter will receive an average cashback of 48,000 KRW per person on the 15th.

The Ministry of Economy and Finance announced that out of a total of 15.09 million participants in the Win-Win Consumption Support Fund, about 8.1 million people (55%) are scheduled to receive cashback of this scale. The total cashback amount is 387.5 billion KRW.

Among them, 1.69 million people will receive the full cashback limit of 100,000 KRW. However, the Ministry explained that the cashback amount may change during additional settlement processes such as payment cancellations or accounting verification.

Cashback is being paid from midnight today to the dedicated card company cards designated by the applicants. The refunded cash can be used immediately upon receipt and is deducted first when making card payments. There are no separate restrictions on where it can be used, and it can be used at all domestic merchants that have signed franchise contracts with the card companies.

The cashback usage period is until June 30 of next year. Unused balances will expire and cannot be transferred to others.

Additionally, cashback for this month's spending is scheduled to be paid on the 15th of next month. It has been confirmed that a total of 51 billion KRW in cashback has been generated as of the 12th.

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