Gov't, ruling party agree to begin 2nd round of cash handouts starting Sept. 22
A sign indicating the government's cash handouts are accepted is seen at a store near Gangnam Station in southern Seoul, on July 29. Yonhap
The government and the ruling Democratic Party (DP) held a meeting Tuesday to discuss ways to effectively roll out a second round of cash handouts, set to begin on Sept. 22.
During the policy consultations, the two sides also agreed to exclude high-net-worth individuals from receiving the coupons in the second round and to come up with specific cutoff standards.
"The second round of consumption coupons should serve their intended purpose of enhancing convenience for residents and strengthening the self-reliance of local communities," Rep. Shin Jeong-hoon, chair of the parliamentary interior and safety committee, said in his opening remarks.
He also suggested considering the issuance of prepaid cards to military personnel so that they can be used near military bases.
In July, the government distributed its first round of cash handouts, dubbed "consumption coupons," worth 150,000 won ($108) to all citizens, with additional support allocated for low-income and single-parent households.
The interior minister initially said the second round, scheduled between Sept. 22 and Oct. 31, will provide an additional 100,000 won to the bottom 90 percent of income earners.