Starting on the 22nd, the second round of people's livelihood recovery consumption coupons will be provided to 90% of the entire population. The amount is expected to be 100,000 won per person. The 10% excluded from this round are those whose combined assessed value for property tax last year exceeded 1.2 billion won, or whose combined attributed financial income exceeded 20 million won.
The government on the 12th announced the second payment plan for people's livelihood recovery consumption coupons at the Government Complex Seoul in a joint briefing with relevant ministries.
Selection of recipients for the second payment of consumption coupons will be made on a household basis. As of June 18 this year, one household is defined as people listed together on the resident registration for each household under the Resident Registration Act.
About 3.14 million people in vulnerable groups, such as basic livelihood recipients, those near the poverty line, and single-parent families, who were additional recipients in the first round, are also included in the second payment.
To select the bottom 90% by income as recipients in this second round, the government first excluded households deemed to be high-asset households.
Based on this, the criteria were set, for a single-income employee subscriber, at a personal share of health insurance premiums of up to 220,000 won for a one-person household, 330,000 won for two persons, 420,000 won for three, and 510,000 won for four. By this standard, a one-person household is included if annual income is 74.47 million won or less.
For dual-income households, the health insurance premium standard for the number of household members plus one will be applied, taking into account that each spouse's premiums are combined. For example, if a four-person household includes two employee subscribers, the standard for a five-person household applies. The payment thresholds for dual-income households are 420,000 won for two persons, 510,000 won for three, 600,000 won for four, and 690,000 won for five.
The Ministry of the Interior and Safety said it took fairness into consideration to ensure that one-person households, which have a high proportion of young adults and the elderly, and multi-income households with high combined income would not be excluded from eligibility.
As with the first round, applications and payments for the second round will be made individually by adults born on or before Dec. 31, 2006. For minors, the head of the household on the resident registration applies and receives on their behalf.
Applications for the second round of people's livelihood recovery consumption coupons will be available from 9 a.m. on the 22nd until 6 p.m. on Oct. 31. As in the first round, recipients can choose to receive them via credit/debit card, local gift certificate, or prepaid card.
Minister Yun Ho-jung of the Ministry of the Interior and Safety said, "I hope the revived momentum in domestic demand through the first round of people's livelihood recovery consumption coupons will spread further through the second round," and added, "We will work with relevant ministries and local governments to ensure that people experience no inconvenience throughout the application, payment, and use process."