Gwangmyeong City "93.4% Application Rate for Livelihood Stability Support Fund for All Citizens"

100,000 KRW per person... Usage rate reaches 89.5%
Park Seung-won: "A livelihood policy that revitalized the local economy"

Gwangmyeong City in Gyeonggi Province announced on the 1st that the application rate for the livelihood stabilization support fund, which was provided to all citizens this year, reached 93.4% as of the application deadline.

Gwangmyeong Traditional Market, the largest traditional market in the Gwangmyeong area. The livelihood stabilization support fund provided by Gwangmyeong City to all citizens from the beginning of the year recorded an application rate of 93.4%. Provided by Gwangmyeong City

The city explained that as of the application deadline on the 31st of last month, 259,190 out of the total 278,167 eligible recipients applied. Previously, on January 15, the city provided a livelihood stabilization support fund of 100,000 KRW in local currency to all citizens registered as residents in the city.

The usage rate of the support fund was also high. As of the 31st of last month, approximately 23.2492 billion KRW had been spent, recording a usage rate of 89.5% compared to the applied amount.

The city analyzed that these figures signal the current crisis in the livelihood economy. The city’s bold decision and the active participation of citizens are self-assessed to have provided a practical lifeline to the frozen local economy.

Park Seung-won, Mayor of Gwangmyeong City, said, "This support fund is a practical livelihood policy that delivered hope to citizens and revitalized the local economy," adding, "We will continue to do our best to support the local economy and livelihoods with policies that citizens can feel."

Meanwhile, the local currency provided this time can be used until the 30th of this month, after which any unused balance will be fully reclaimed.