What are stimulus coupons?
- A stimulus measure to revive domestic spending and support small businesses
- Funded by 13.9 trillion won ($10.1 billion) within a 31.8 trillion won supplementary budget
- From 2020 to 2022, eight rounds of supplementary budgets totaled 183.3 trillion won
- Korea rolled out "universal" emergency relief funds for the first time during the pandemic
How much will each person receive?
1st round:
- General public: 150,000 won per person
- Low income households and single-parent families: 300,000 won per person
- Basic living allowance recipients: 400,000 won per person
- Additional payouts: 30,000 won for residents outside the capital region and 50,000 won for residents in depopulated rural areas
2nd round:
- An additional 100,000 won per person, excluding those in the top 10 percent income bracket
Who is eligible?
Korean nationals:
- All South Korean citizens residing in Korea as of June 18. Those abroad on June 18 can apply after returning by Sep. 12 (first round) or Oct. 31 (second round)
- Parents apply for children born after Jan. 1, 2007, and newborns born before Oct. 31
Foreign nationals:
- Those registered with Korean family members in the same household registry
- Permanent residents (F-5), marriage migrants (F-6), or recognized refugees (F-2-4) with national health insurance or medical aid coverage
Where can the coupons be used?
Small retailers with annual sales under 3 billion won are eligible. These include:
- Traditional markets, local grocery stores, restaurants, clothing shops, hair salons, optical stores and private academies
- Franchise stores operated by individual owners
- Delivery apps: Only accepted if paid in person using the store’s terminal
Not eligible: Large retailers, online malls, corporate-operated franchise stores, luxury goods shops, duty-free shops, and non-purchase expenses such as taxes and utilities
How to receive the funds:
1st round of applications: July 21 to Sept. 12
- In the first week, applications are scheduled by the last digit of one's birth year: 1 & 6 on Monday; 2 & 7 on Tuesday; 3 & 8 on Wednesday; 4 & 9 on Thursday and 5 & 0 on Friday.
- Credit card recharge: Apply via card issuer’s website or app
- Mobile or card-type regional vouchers: Apply via local government apps
- Paper vouchers or prepaid cards: Apply in person at community centers
2nd round of applications: Sept. 22 to Oct. 31
Are there regional limits?
- Usage is restricted to the registered area
- Metropolitan residents can use the coupons throughout their city, and provincial residents can use them throughout their city, town, or county
When do the coupons expire?
- Both rounds of coupons expire on Nov. 30, except paper regional vouchers, which remain valid beyond that date
- Unused funds will be reclaimed by the government
