Lowest Living Expenses for Household of Four Will Increase to 1,055,090 Won

The lowest living expenses limit, which is a standard for selecting recipients of the government’s basic living guarantee system, will rise by 3.5 percent starting from next year.

According to the Ministry of Finance and Economy on December 4, a central living guarantee committee comprised of the Minister of Health and Welfare, vice ministers of each ministry, and private experts was set up to decide the percentage of increase to which the expense limit should be revised.

The revision will increase the lowest living expenses for a household of four people from the current 1,019,411 won per month to 1,055,090 won next year.

Other expenses were also revised up, including an increase to 368,226 won for one person, 609,842 won for two people, 838,797 won for three, 1,199,637 won for five, and 1,353,680 won for six. The government also raised the income cash by 3.5 percent, excluding other medical and educational supports for the recipient.

This will increase the amount of cash provided to each household with no income up to 324,186 won for one person, 536,905 won for two people, 738,476 won for three, 928,901 won for four, 1,056,160 won for five, and 1,191,780 won for six.

Jin-Hup Song jinhup@donga.com