250,000 Won Consumption Coupons for All Citizens... Interior Ministry Proposes 11 Trillion Won Supplementary Budget

150,000 won for the top 10% income group
400,000 won for the near-poor and single-parent families
250,000 won for the general public... 500,000 won for basic livelihood security recipients

The Ministry of the Interior and Safety has drawn up a supplementary budget of 11 trillion won, which includes issuing consumption coupons worth at least 100,000 won and up to 500,000 won per person to all citizens.

The ministry announced that the new government supplementary budget proposal, totaling 10.9352 trillion won, was approved at the Cabinet meeting on June 19. The proposal is scheduled to be submitted to the National Assembly on June 23.

The majority of this supplementary budget (94.1%) is allocated to the "Livelihood Recovery Consumption Coupon" program aimed at boosting consumption. The plan is to provide every citizen with between 150,000 won and 500,000 won, with a total budget of 10.2967 trillion won.

The amount of the consumption coupon will vary depending on income and other criteria. ▲ 150,000 won for the top 10% income group ▲ 250,000 won for the general public ▲ 400,000 won for single-parent families and the near-poor ▲ 500,000 won for basic livelihood security recipients. Residents of rural and fishing population decline areas will receive an additional 20,000 won per person.

The timing, usage locations, and distribution methods for the consumption coupons will be finalized through discussions by an inter-ministerial task force.

An additional 600 billion won has been allocated to the Local Love Gift Certificate program. Combined with the 400 billion won included in the first supplementary budget, the total reaches 1 trillion won. As a result, the issuance of Local Love Gift Certificates this year will reach a record high of 29 trillion won.

The issuance of these gift certificates will apply different national subsidy rates based on the fiscal conditions of each region, including the Seoul metropolitan area, non-metropolitan areas, and population decline regions. The rates are as follows: 2% for local governments not eligible for general grants, 5% for the metropolitan area, 8% for non-metropolitan areas, and 10% for population decline regions.

A budget of 52.5 billion won has been allocated for restoring areas damaged by natural disasters such as flooding and collapses.

A budget of 1.5 billion won has been allocated to support the victims and bereaved families of the 10·29 Itaewon tragedy. This will be used for living support payments to bereaved families and affected households, employment retention subsidies for those taking healing leave, and the government's third anniversary memorial event.

Ko Kidong, Acting Minister of the Interior and Safety, stated, "We hope that this supplementary budget can serve as a catalyst for a virtuous cycle in the local economy amid uncertain economic conditions," adding, "We will work closely with relevant ministries and the National Assembly to ensure the prompt approval of the supplementary budget."