Second Round of Jeju High Oil Price Support Fund: 150,000 Won Each for 70% of Residents

Support for the Bottom 70% Income Bracket Begins May 18
Usable with Tamna Nejeon and More Until the End of August

Jeju Special Self-Governing Province is accelerating efforts to revive the local economy by easing the financial burden on households caused by persistent high inflation. Starting May 18, the province will begin the full-scale allocation of the "Second High Oil Price Damage Support Fund," providing 150,000 won per person to approximately 460,000 residents in the bottom 70% income bracket.

Jeju Special Self-Governing Province Government Building

Eligibility for this support was determined based on the total amount of individual contributions to health insurance premiums assessed in March 2026.

For single-income, employee-insured households, single-person households with premiums of up to 130,000 won and four-person households with up to 320,000 won are eligible. For dual-income households, the criteria are relaxed by adding one more household member. However, individuals with a combined property tax base exceeding 1.2 billion won or with financial income over 20 million won are excluded from the program.

Applications can be submitted from May 18 to July 3. During the first week (May 18–22), a day-of-week system based on the last digit of the birth year will be implemented to prevent application congestion.

On Monday, May 18—the first day of applications—residents whose birth years end with 1 or 6 can apply. On Tuesday, May 19, those ending with 2 or 7 are eligible. Wednesday, May 20 is for those ending with 3 or 8, and Thursday, May 21 is for 4 or 9. Finally, on Friday, May 22, the process concludes with applicants whose birth years end with 5 or 0.

The second round of payments has been designed to maximize the reduction in payment processing fees for small businesses, reflecting the high popularity of the local currency "Tamna Nejeon" observed in the first round.

The maximum commission rate, which is up to 0.62 percentage points lower than that of credit cards, is expected to serve as a practical safeguard for small business owners struggling with high inflation.

Kang Aesuk, Director of Economic Vitality at Jeju Province, stated, "During the first payment, the application rate for Tamna Nejeon was among the highest nationwide, contributing to the revitalization of local neighborhood businesses. I urge small business owners who have not yet registered as affiliated stores to do so quickly so they can benefit from lower transaction fees." Online applications can be made via the Tamna Nejeon app or the websites of card companies, while offline applications can be processed at community centers or bank branches.

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