Disaster Relief Funds Released This Week... Care and Employment Support in Late Period, Small Business Support Paid on 28th (Comprehensive)

Prospect of '4th Supplementary Budget' Passing the National Assembly on the 22nd

On the 22nd, an emergency disaster relief fund usage notice was posted at Tongin Market in Jongno-gu, Seoul. Photo by Mun Ho-nam munonam@

[Asia Economy Reporter Jang Sehee] Care support funds for households with preschool children (infants and toddlers) and elementary school students, as well as emergency employment stabilization funds for special-type workers (teukgo) and freelancers, are expected to be paid as early as later this week.

New Hope Funds for small business owners will be paid on the 28th, and youth support funds on the 29th. Since the deadline for the first application is tight, applying quickly is necessary to receive the support funds before Chuseok.

According to the Ministry of Strategy and Finance, Ministry of Employment and Labor, Ministry of SMEs and Startups, and Ministry of Health and Welfare on the 20th, the government has tentatively set the payment schedule assuming that the 4th supplementary budget bill will pass the National Assembly on the 22nd.

The Ministry of Strategy and Finance is building the support system and selecting recipients to pay as many support funds as possible before Chuseok.

The special care support fund for households with preschool children and elementary school students (KRW 200,000 per child) has clear eligibility and the payment method is already in place, so most payments are expected to be completed before Chuseok.

In addition, 500,000 special-type workers (teukgo) who received the first emergency employment stabilization fund have administrative data ready, so payments can be made before Chuseok.

However, small business owners who need to prove a decrease in sales and special-type workers applying for the employment stabilization fund for the first time this year may have their payments delayed until after Chuseok.

Meanwhile, the government plans to fully implement various Chuseok livelihood stabilization measures starting this week. From the 21st, paper Onnuri gift certificates will be sold at a 10% discount at commercial banks and post offices, and the maximum purchase limit per person has been increased from KRW 500,000 to KRW 1,000,000 for this month only. The purchase limit for mobile Onnuri gift certificates will also be expanded from KRW 700,000 to KRW 1,000,000 per month from the 21st through the end of the year.