Buan County in North Jeolla Province is providing livelihood stabilization support funds to all residents in order to help stabilize the lives of citizens facing difficulties due to high inflation, high interest rates, and the economic downturn. Regardless of income or asset level, each resident is eligible to receive 300,000 won, drawing significant interest. Ahead of Chuseok, not only Buan County but also other local governments are joining in by distributing their own support funds to help ease the burden on residents.

The support funds will be distributed to residents who have maintained their resident registration in Buan County as of August 12 and continue to reside there until the application date. Those with marriage migrant status or permanent residency status under relevant laws are also included. The amount is 300,000 won per person, provided in the form of a prepaid card.

The prepaid card can only be used at affiliated merchants within Buan County that have credit card terminals installed. However, certain businesses, such as entertainment establishments, are excluded. The card must be used by November 30, and any unused balance after this date will be fully reclaimed by the county.

Buan County Provides 300,000 Won Livelihood Support Fund to All Residents
Yeonggwang Supports 500,000 Won, Gochang 200,000 Won, Hwasun 100,000 Won
Local Governments Compete in Support Separate from Government's Second Round Aid

Buan County has designated the period from September 15 to 17 as the "concentrated distribution period," during which county and township officials will personally visit villages to deliver the prepaid cards to residents. Those who are unable to receive the card during this period can visit their local township administrative welfare center from September 18 to October 31 to apply.

For families registered at the same address, the head of household is generally the recipient. However, if the head of household is unable to visit due to unavoidable circumstances, another family member may apply on their behalf. Details regarding distribution locations and times can be found on the Buan County Office website's notices and announcements board.

Kwon Ikhyun, Mayor of Buan County, stated, "To maximize the impact of the livelihood stabilization support fund, we are conducting on-site distribution in each village for prompt delivery," and added, "I hope that the Buan County livelihood stabilization support fund, provided separately from the livelihood recovery consumption coupon, will offer real help to the daily lives of Buan County residents and serve as an opportunity for a virtuous cycle in the local economy."

Ahead of Chuseok, some local governments have started providing their own livelihood support funds. The photo is for illustrative purposes to aid understanding of the article and is unrelated to the main text. Photo by Yonhap News Agency

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Similar support measures are being implemented by other local governments. Yeonggwang County in South Jeolla Province has been accepting applications since September 1 and is providing 500,000 won per person as a livelihood economic recovery fund. The county also provided the same amount during the previous Lunar New Year. Hwasun County in South Jeolla Province will distribute a 100,000 won livelihood stabilization support fund per person starting September 22. Gochang County in North Jeolla Province plans to provide a 200,000 won resident vitality support fund per person before Chuseok.

The reason local governments are distributing livelihood support funds before Chuseok is to maximize the effect of boosting domestic demand, in addition to the government's second round of livelihood recovery consumption coupons. However, considering the limited financial resources of some local governments that have announced these support funds, there are criticisms that these are populist policies. In fact, Yeonggwang County's fiscal independence ratio was only 11.37%, and Hwasun County's was just 13.47%.

Separate from the local government support funds, the government will also distribute the "second round of livelihood recovery consumption coupons." This program will run from September 22 to October 31, providing 100,000 won per person to 90% of the population (excluding the top 10% by income).

Because the second round will be distributed only to the lower 90% income group, recipients will be notified in advance of their eligibility. By signing up for the "Livelihood Recovery Consumption Coupon Notification" service through the National Secretary, individuals can receive advance information about their eligibility, application period and method, and usage period for the consumption coupons.

From September 22, individuals can also directly check their eligibility for the second round of support. Online inquiries can be made through the website, app, call center, or ARS of the individual's card company, as well as the National Health Insurance Service website (www.nhis.or.kr) and app (The National Health Insurance). In-person inquiries can be made at township administrative welfare centers or community centers.