South Korea Launches Second Round of Stimulus Coupons, Covering 90% of Population
South Korea began accepting applications Monday for its second round of “living support coupons,” which will provide about 90% of citizens with a $73 benefit per person.
The program allows recipients to choose between loading the funds onto a credit or debit card, a prepaid card, or a local gift certificate.
Eligibility is based on household income levels. For single-person households, the threshold is roughly $55,000 in annual income, with higher limits for larger families. Households with real estate holdings above $880,000 in taxable value or annual financial income over $15,000 are excluded.
Applications will remain open until October 31 through major credit card companies, the National Health Insurance Service, and local government offices. To avoid system overload, applications this week are being staggered by birth year.
The coupons must be used by November 30. Any unused balance will expire.
In the first round earlier this year, more than 99% of eligible residents applied, with payouts totaling about $6.6 billion.
