Jeongeup, North Jeolla Province, drew attention by announcing plans to provide a "livelihood recovery subsidy" of 300,000 won per person to all residents in January next year.
The city of Jeongeup and the city council said on the 15th that they decided to pay the subsidy as a measure to ease the financial burden residents are facing from the prolonged economic slump.
All residents registered in Jeongeup as of Dec. 15, the reference date for payment, are eligible, and the subsidy will be paid across the board regardless of income level, asset ownership, or employment status.
The city secured a total of 42.9 billion won in surplus funds by reexamining this year's budget from scratch and cutting unnecessary expenditure to save 22 billion won. Of that, 30.5 billion won will be allocated to the livelihood recovery subsidy.
The subsidy will be provided as the "Jeongeup Love Gift Certificate" in the form of a prepaid card starting Jan. 19 next year. The aim is to prevent money from flowing out of the region and to boost local spending in neighborhood businesses and traditional markets.
Jeongeup also drew attention last year by paying 300,000 won per person to all residents.