South Korea is set to launch the second phase of its **cash assistance program** next week, providing crucial **financial relief** to approximately 36 million citizens. This significant **government support** targets the bottom 70 percent of **income earners** and aims to alleviate severe **financial strains** exacerbated by **rising fuel prices** amid the ongoing **Middle East conflict**. Officials confirmed this comprehensive initiative on Monday, emphasizing the nation’s commitment to **economic stability** for its households.
This broad **economic relief** measure follows the National Assembly’s approval last month of a substantial 26.2 trillion-won ($17.8 billion) **extra budget bill**. The budget was specifically designed to address the multifaceted **economic fallout** stemming from the **Middle East conflict**, with the introduction of this vital **cash assistance plan** forming a key component of the overall strategy.
Under the initial phase of this **national support program**, which commenced in April, the government successfully distributed up to 600,000 won to recipients of **basic livelihood security** and other designated **vulnerable groups**, providing essential **household assistance** during challenging times.
The application window for the second round of this crucial **financial aid program** will open next Monday. Eligible individuals residing within the broader **Seoul metropolitan area** are slated to receive 100,000 won. Furthermore, those living in **areas with declining populations** may be eligible for a higher sum, up to 150,000 won each, reflecting tailored **regional support** strategies.
Eligibility for this **government assistance** will be precisely determined by a household’s **national health insurance payment** recorded in March of this year. For **single-person households**, individuals who paid 130,000 won or less in health insurance premiums will qualify for the program, ensuring targeted **income-based support**.
However, specific criteria will exclude certain households from the program. Households with total assets exceeding 1.2 billion won as of last year, or those who earned 20 million won or more in financial income during 2024, will not be eligible. This ensures that the **economic relief** focuses on those most in need.
The government has set the application deadline for this essential **cash assistance** program for July 3, urging all eligible citizens to apply promptly.
Recipients will have flexible options for receiving their **financial aid**, including direct deposits to their **credit and debit cards**, utilization of **prepaid cards**, or through convenient **local currency vouchers**, offering widespread accessibility to the **government support**.
