South Korea broadens fuel relief payouts

South Korea will launch the second round of its “high fuel price relief payments” on May 18, providing between 100,000 won and 250,000 won per person to households in the lower 70 percent of the income distribution.

The government said Monday that eligibility will be determined by national health insurance premiums paid in March by salaried single-income households. Monthly premium cutoffs are set at 130,000 won for single-person households, 140,000 won for two-person households, 260,000 won for three-person households and 320,000 won for four-person households.

Kim Moon-sik, director general for welfare administration support at the Ministry of Health and Welfare, said the thresholds correspond roughly to annual incomes of 43.4 million won for one-person households, 46.74 million won for two-person households, 86.79 million won for three-person households and 106.82 million won for four-person households.

Households that meet the insurance premium criteria may still be excluded if their combined taxable property value exceeded 1.2 billion won last year or if their financial income in 2024 topped 20 million won.

The government said a taxable property value of 1.2 billion won would generally correspond to ownership of a single home with an officially assessed value of about 2.6 billion won. Financial income of 20 million won, meanwhile, would be comparable to holding roughly 1 billion won in bank deposits at an annual interest rate of 2%.

Including recipients from the first round, which began last month for basic livelihood security recipients and other vulnerable groups, as well as those newly covered under the second round, about 36 million people are expected to receive the payments.

Applications for the second round will be accepted from May 18 through July 3 at local community centers and through card company mobile applications and websites.

As in the first round, payments will vary from 100,000 won to 250,000 won depending on where recipients live, including whether they reside in the Seoul metropolitan area or in regions facing population decline.

Recipients may choose to receive the funds through credit or debit cards, local gift certificates or prepaid cards. The funds must be used by Aug. 31.


한재희 hee@donga.com