Yongin City Launches ‘High Oil Price Damage Support Fund’ Task Force... Up to 550,000 Won for Vulnerable Groups

First Round Applications for Basic Livelihood Security Recipients and Near-Poor Households Start on April 27

Bottom 70% Income Bracket Accepted from May 18

Five-Division Task Force Formed for Swift Execution

Yongin Special City in Gyeonggi Province (Mayor Lee Sangil) has begun full-scale preparations for the execution of the 'High Oil Price Damage Support Fund' to assist vulnerable groups who are struggling with their livelihoods due to the sharp rise in international oil prices caused by the war between the United States and Iran.

Yongin Special City held a meeting on the 15th and established a dedicated team to ensure the smooth execution of the 'High Oil Price Damage Support Fund.' Provided by Yongin City

On April 16, Yongin City announced that it had formed a 'High Oil Price Damage Support Fund Task Force' led by First Deputy Mayor Ryu Gwangyeol on the 15th, and established an interdepartmental cooperation system. This support fund is designed to alleviate the financial burden on ordinary citizens facing a steep increase in prices, including the surge in oil prices due to heightened tensions between the United States and Iran.

The 'High Oil Price Damage Support Fund Task Force' consists of five divisions: General Affairs, Administrative Support, Equipment Support, Payment Management, and Public Relations. Each department at city hall will conduct government consultations and field monitoring regarding the disbursement of the support fund, as well as promotional work.

The General Affairs division is responsible for managing applications for the support fund and handling appeals or civil complaints that arise during the disbursement process.

The Administrative Support division is in charge of budgeting for the support fund and managing auxiliary personnel and call centers that facilitate communication with eligible recipients.

In addition, the Equipment Support division prepares administrative equipment and handles website management, while the Payment Management division receives civil complaints related to the use of the support fund and manages affiliated merchants.

The Public Relations division provides accurate information throughout the application and disbursement process and conducts promotional activities via the city website, social network services (SNS), and banners to enhance information accessibility for citizens with limited access.

The city is also thoroughly securing necessary funding, including reviewing plans for emergency fiscal input, to ensure the smooth disbursement of the support fund.

Additionally, to ensure that citizens receive the support fund in a timely manner, the city is making arrangements so that 60 staff members across 52 departments can be quickly mobilized. The city also plans to operate a 'visiting application' service for citizens who have mobility difficulties or cannot apply in person.

The 'High Oil Price Damage Support Fund' is provided to assist vulnerable groups expected to face financial hardship due to price increases resulting from the spike in oil prices.

Depending on income level, the support fund ranges from 100,000 won to a maximum of 550,000 won per person. Those in the bottom 70% income bracket will receive 100,000 won, while near-poor households and single-parent families are eligible for 450,000 won, and basic livelihood security recipients can receive up to 550,000 won.

The required budget will be jointly funded by the central government and Gyeonggi Province, with the city contributing 10% of the total project cost according to the national and provincial matching ratio.

Applications and disbursement for basic livelihood security recipients and near-poor households will take place during the first round from April 27 to May 8.

Applications and disbursement for those in the bottom 70% income bracket will be held from May 18 to July 3. Basic livelihood security recipients and near-poor households who did not apply during the first round may submit additional applications during this period.

Recipients may choose to receive the support fund via credit card, debit card, prepaid card, or local gift certificate. The usage deadline is until midnight on August 31.

Applications can be made online or in person. For online applications, credit and debit card users can apply through each card company's website or app. For internet banks, simple payment services, and mobile or card-type gift certificates, applications can be made through each operator's app.

In-person applications can be made at bank branches and administrative welfare centers. Credit and debit cards are processed at bank branches, while prepaid cards and local currency are processed at township, town, and neighborhood administrative welfare centers. The support fund will be credited the day after the application is submitted.

The 'High Oil Price Damage Support Fund' can only be used within the jurisdiction of the recipient's registered address.

The 'High Oil Price Damage Support Fund' can be used at small businesses with annual sales of 3 billion won or less. However, it cannot be used at entertainment businesses, speculative businesses, or cash-equivalent businesses.

First Deputy Mayor Ryu Gwangyeol stated, "We will thoroughly prepare through the task force so that the High Oil Price Damage Support Fund can provide real help to citizens facing hardship due to high prices," adding, "Although the preparation period is short, we will do our utmost to execute the payments swiftly and according to schedule."

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