Table of Contents
- Government announces second consumption coupon payment plan to continue the spark of domestic recovery
- Selection criteria for recipients of the second payment of consumption coupons
- Application method, period, and usage guidance
- Improvements and precautions compared to the first payment
- In conclusion
- Frequently Asked Questions (FAQ)
Government announces the second consumption coupon payment plan to continue the spark of domestic recovery
The government publicly announced the second subsidy plan for consumption coupons aimed at the recovery of livelihoods, demonstrating a strong commitment to revitalizing the domestic market.
Having recorded a high application rate of 98.9% during the first payment, along with the rise in consumer sentiment index, it is expected that this second payment will also serve as a catalyst to invigorate the stagnant economy.
The second livelihood recovery consumption coupon will be implemented starting September 22. Each individual will receive 100,000 won, targeting 90% of the population. However, the top 10% based on income and assets will be excluded.
This post will detail the payment criteria, application methods, and major changes for the new second livelihood subsidy.
Selection criteria for recipients of the second payment of consumption coupons
The main point of the second payment of livelihood recovery consumption coupons is to select recipients from the bottom 90% of income earners. The government has established clear criteria for this, and all citizens should thoroughly check their eligibility in advance.
Exclusion criteria for high-net-worth individuals
First, high-net-worth individuals will be excluded from the support. There are two criteria for this judgment.
The first criterion is if the total property tax standard of the household members exceeds 1.2 billion won for the year 2024.
The second criterion is if the total financial income, namely interest and dividend income, exceeds 20 million won for the year 2024.
If any of these two conditions apply, the household will be excluded from support, so caution is needed.
Selection of bottom 90% based on health insurance premiums
For households excluding high-net-worth individuals, the final recipients will be selected based on the health insurance premiums owed as of June 2025. The household composition will be determined according to the resident registration list as of June 18, 2025, and even if spouses and children reside at different addresses, they will be recognized as the same household if they are registered as dependents under health insurance.
The government has prepared measures to enhance equity by considering the various characteristics of single-person households and dual-income families. For instance, for single-person households, income criteria were adjusted based on an annual income of approximately 75 million won, meaning the health insurance premium should be around 220,000 won. Additionally, for dual-income families with more than two income sources, the number of household members will be increased by one to apply the selection criteria to prevent disadvantages.
Such measures will contribute to ensuring fairer support that reflects various household types.
Application method, period, and usage guidance
To avoid missing out on benefits, it is essential to know the application method and timeline accurately. Furthermore, there are limitations regarding the usage deadline and locations, so it's important to check in advance.
Application period and method
The second application for the livelihood recovery consumption coupon can be made from September 22 (Monday) at 9:00 AM to October 31 (Friday) at 6:00 PM. To prevent congestion during the initial application period, a birth year-based application system will be implemented from September 22 to 26.
The application can be made online and offline. Online applications can be easily submitted through the websites or apps of nine card companies, call centers, and the regional love gift certificate app. For offline applications, individuals can apply at bank branches partnered with the card companies or at the administrative welfare centers in their local areas.
Given the expected high interest in the consumption coupons, it is recommended to plan the application timing to facilitate a smooth process.
Usage deadline and main usage locations
The consumption coupons must be used by November 30 for both the first and second payments, and any unused amount after the set deadline will automatically expire, so caution is required.
The coupons can only be used at small businesses that have an annual revenue of 3 billion won or less within the relevant resident registration address area. They can be used at various local shops like traditional markets, neighborhood marts, restaurants, and beauty salons, but cannot be used at large supermarkets, department stores, corporate supermarkets, online shopping malls, or entertainment venues, so please keep this in mind.
Improvements and precautions compared to the first payment
The government is preparing various measures to address the issues observed during the first payment and to enhance the convenience for citizens. In particular, it is essential to be aware of the improvements for military personnel and the precautions to prevent financial fraud.
Use available at military service locations
In this second payment, soldiers undergoing military duty can now use consumption coupons at nearby stores of their service location. They can apply at the administrative welfare center where they are stationed to receive prepaid cards that can be used in that area, allowing them to effectively support consumption activities.
Additionally, if they received the benefits through the Love for the Country Card (KB, BC Card), they will also be able to utilize the livelihood subsidy at PX locations nationwide. This change will greatly enhance the spending conditions for military personnel.
Caution against smishing financial fraud
Attention is required for the recovery of livelihoods due to the issuance of consumption coupons. In particular, cases of smishing (financial fraud through text messages) are on the rise, demanding heightened awareness.
The government, card companies, and local governments do not include internet addresses (URLs) in the text messages related to consumption coupon applications. It is crucial not to click on links in messages from unknown sources and to delete them immediately. If you receive a suspicious message, you should report it to the Korea Internet & Security Agency's 118 center.
Safety precautions for using consumption coupons are necessary.
In conclusion
The second payment of consumption coupons for the recovery of livelihoods is starting. This policy plays a crucial role in revitalizing the domestic economy and alleviating the difficulties faced by small businesses.
The payment amount is 100,000 won per person, and 90% of the population is expected to benefit. Eligible citizens must adhere to the application period from September 22 to October 31.
It is especially important to confirm in advance whether your household meets the criteria based on health insurance premiums.
Additionally, it is essential to effectively utilize the reformed guidelines so that all citizens, including military personnel, can conveniently and safely enjoy the benefits. It is hoped that all benefits will be used wisely before the usage deadline of November 30, contributing to the revitalization of the local economy.
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Frequently Asked Questions (FAQ)
Q. How are the recipients of the second payment of the livelihood recovery consumption coupon selected?
It is targeted at citizens who meet the bottom 90% income and the exclusion criteria for high-net-worth individuals.
The second livelihood recovery consumption coupon targets 90% of the population, and the top 10% is excluded based on income and asset criteria. The determination of high-net-worth individuals is based on exceeding a property tax standard of 1.2 billion won or exceeding a financial income of 20 million won for 2024. Additionally, final recipients will be selected based on health insurance premiums owed in June 2025, and household composition will be judged according to the resident registration list.
Q. What is the application period and method for the livelihood recovery consumption coupon?
Applications can be made online and offline from September 22 to October 31.
Applications for the coupon will be accepted from September 22, 2024, at 9:00 AM until October 31 at 6:00 PM. A birth year-based application system will be implemented during the first week to prevent congestion. Applications can be submitted online via card company websites, apps, call centers, and the regional love gift certificate app, while offline applications can be submitted at partnering bank branches and administrative welfare centers in local areas.
Q. Where can the livelihood recovery consumption coupon be used?
It can only be used at local small businesses with annual revenues of 3 billion won or less.
The coupon can only be used at small business establishments within the resident registration address, and its use is restricted at large supermarkets, department stores, corporate supermarkets, online malls, and entertainment venues. It can be used at various local shops such as traditional markets, neighborhood marts, restaurants, and beauty salons, with a usage deadline of November 30. Unused amounts will automatically expire, so it is crucial to use them within the period.
Q. Can military personnel use the livelihood recovery consumption coupon?
Yes, it can be used at stores near military service locations and PX.
Starting with the second payment, soldiers on duty can apply through their service location’s administrative welfare center to receive prepaid cards that can be used at stores near their duty station. Additionally, those receiving funds through the Love for the Country Card (KB, BC Card) can also use them at PX locations nationwide, significantly improving convenience for military personnel.
Q. What are the methods to prevent financial fraud related to the livelihood recovery consumption coupon?
Avoid clicking links in messages from unknown sources and report to the Korea Internet & Security Agency.
The government and card companies do not include internet addresses (URLs) in text messages related to consumption coupons, so it is important not to click on links in messages from unverified sources and to delete them immediately. If you receive a suspicious message, report it to the Korea Internet & Security Agency's 118 center to prevent financial fraud.
