Public Welfare Recovery Coupons, 72% Applied in Five Days...6.5 Trillion Released

[Financial News] 'Public Welfare Recovery Coupons' first application saw 72.0% (36,425,598 people) of the total eligible population complete their applications in five days.

According to the Ministry of the Interior and Safety on the 26th, the support funds distributed to applicants over the past five days amounted to 6.5703 trillion won.
The application rate by region was highest in Incheon at 77.0% (2,324,053 people). The region with the fewest applicants was Jeonnam, recording 66.1% (1,172,451 people). Seoul saw 72.1% of its eligible population, 6,578,408 people, complete their applications.

By payment method, credit and debit cards were the most common with 26,960,569 people. Additionally, 3,216,232 people chose prepaid cards, 5,646,922 people selected local love gift certificates (mobile and card), and 601,875 people opted for paper certificates.

The consumption coupons are an economic stimulus measure issued by the government to boost subdued consumption. The core is to provide 150,000 to 450,000 won per person. During the first week of applications (21st to 25th), applications were received based on the last digit of birth year to manage the influx of applicants. With the end of the weekday application system, applications for the consumption coupon can be made regardless of the last digit of birth year starting today. The application deadline is 6 PM on September 12.
Applications via credit and debit cards can be made online through card company websites, applications (apps), call centers, and simple payment apps like KakaoBank, K-Bank, Toss, and Naver Pay. If online application is difficult, visiting bank branches linked with each card company is an option.

For mobile and card-type local love gift certificates, applications can be made directly through local love gift certificate apps or at town and village community centers. If you wish to receive a prepaid card or paper-type local love gift certificate, visit the community center in your jurisdiction to apply.
However, only online applications are available on weekends. The coupons can be used at small businesses with annual sales of 3 billion won or less, excluding large supermarkets, department stores, and entertainment venues. Coupons can be used from the day after application until November 30.



kjh0109@fnnews.com Kwon Jun-ho Reporter