300,000 KRW per Person
Applications Accepted at Township Offices from the 11th to 14th
Goheung County in Jeonnam Province (Governor Gong Youngmin) announced on the 4th that, in order to revive the local economy stagnated by high prices, high interest rates, and high exchange rates and to stabilize the lives of residents, it will provide a 300,000 KRW livelihood recovery support fund per person to all county residents starting from the 11th.
This support fund will be provided regardless of income or age, and is available to all residents (including marriage immigrants and permanent residents) who have continuously maintained their address in Goheung County as of the application date and as of December 31, 2024. The total number of eligible recipients is approximately 60,500, with a total budget of 18.2 billion KRW allocated.
For the application and payment process, from the 11th to the 14th, staff from township offices and the county office will visit villages directly for the first round of payments. Residents who do not receive the support fund during this period can visit their local township office (Population Administration Team) by April 11 (for four weeks) to apply and receive payment immediately.
The head of the household can receive the support fund after identity verification with an ID card, and if a household member or proxy applies, a power of attorney and the head of household's ID card must be submitted together.
The county will provide the support fund in the form of Goheung Sarang Gift Certificates, a local currency, to promote local spending and maximize the effect of economic revitalization. Through this, it is expected to provide practical help to household economies by increasing sales for small business owners and self-employed individuals.
A county official stated, "We will do our best to simplify the payment process so that all residents can apply without omission and receive the support fund quickly and conveniently," and added, "Goheung Sarang Gift Certificates provided to all residents can be used as policy allowances at 2,524 affiliated stores in the region, such as marts, gas stations, and traditional markets. We ask that you use them preferably by the end of June to help revive the stagnant local economy."
Meanwhile, Goheung County secured the 18.2 billion KRW needed for this support fund through bold expenditure adjustments such as cutting employee welfare budgets, operating expenses, and new project budgets. With the active cooperation of the county council, the 333rd temporary session passed the one-point supplementary budget and ordinance as originally proposed.
In addition, along with this livelihood recovery support fund, a total of 52 billion KRW in local currency, including 35.8 billion KRW in Goheung Sarang Gift Certificates, is expected to be circulated, which is anticipated to help revive the local economy and boost local consumption.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
