Overview
- Government officials said Saturday that payments will start April 27 for the most vulnerable and widen on May 18 to the broader eligible group.
- About 32.5 million people in the bottom 70 percent of earners will receive 100,000 to 600,000 won, with funds loaded to debit or prepaid cards or local gift cards and a spend-by date of August 31.
- Parliament passed a 26.2 trillion won extra budget on Friday, and the Cabinet approved it Saturday, including 6.1 trillion won set aside for the cash program.
- Applications run in two waves through July 3, and some foreign residents qualify under strict rules tied to resident records and national health insurance enrollment.
- The measures respond to oil-driven price pressures linked to Middle East tensions, and the Bank of Korea kept its key rate at 2.5 percent on Friday to limit inflation risks.