Another cash handout scheme to be offered to 90% of citizens from Sept. 22
Citizens apply for the first round of a cash handout scheme at a community center in Seoul, July 24. Yonhap
Another round of a voucher scheme offering cash handouts to 90 percent of citizens will be implemented later this month, officials said Friday, as part of efforts to stimulate private consumption.
Under the scheme, 90 percent of all citizens will be eligible for the handouts, worth 100,000 won ($72) per person in the form of "consumption coupons," with applications to start on Sept. 22 and end on Oct. 31.
The move comes as applications for the first round of handouts, which provided 150,000 won to all citizens, is set to end Friday after beginning July 12.
For the latest handouts, high-income households that had a property tax base of 1.2 billion won or more last year and those with financial income exceeding 20 million won will not be eligible.
For single-person households, employed workers who earn more than 75 million won per year will also be excluded.
"(I) hope that the domestic consumption atmosphere revived by the first round of livelihood recovery consumption coupons will further expand with the second round," Interior Minister Yun Ho-jung said.