First Round of High Oil Price Relief Payments Begins... Up to 550,000 Won for Basic Livelihood Recipients

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[The Financial News]
The payment of high oil price relief funds is beginning for people struggling with the high oil prices, weak won, and rising inflation triggered by the war in the Middle East.
The Ministry of the Interior and Safety (MOIS) said on the 26th that the first round of payments will begin at 9 a.m. on the 27th. During the first week of applications, both online and offline, a weekday system will apply based on the last digit of the applicant's birth year. Eligible recipients are basic livelihood recipients, near-poverty households, and single-parent families. The payment is 550,000 won per basic livelihood recipient and 450,000 won per person for near-poverty households and single-parent families. An additional 50,000 won per person will be provided to residents of Non-metropolitan areas and Depopulation Areas.
The first application period runs for about two weeks, from 9 a.m. on the 27th to 6 p.m. on May 8. Applications can be submitted both online and offline. Online applications are available 24 hours a day during the period, while offline applications are accepted on weekdays from 9 a.m. to 6 p.m. Bank branches, however, will take applications only until 4 p.m. During the first week of applications, from April 27 to April 30, the weekday system will be based on the last digit of the birth year. On April 30, people born in years ending in 4 or 9, as well as 5 or 0, may apply. May 1 is a public holiday for International Workers' Day. Those who miss the first application period may apply during the second round, which will run from May 18 to July 3.
Applicants may choose one of three payment methods: credit or debit card, prepaid card, or Local Love Gift Certificate. People who want payment through a credit or debit card can apply online through their card issuer's website, app, or call center, or offline by visiting a bank branch linked to the card.
Those who want a mobile or card-type Local Love Gift Certificate can apply online through the Local Love Gift Certificate app or website of the local government in their area of residence. People who want paper Local Love Gift Certificates or prepaid cards can apply and receive them by visiting the Eup, Myeon, Dong Administrative Welfare Center, Community Service Center, or Town and Township Office in their area of residence. MOIS has asked all local governments to prepare at least one offline payment method, either a Local Love Gift Certificate or a prepaid card. However, the available payment methods differ by local government, so applicants should check in advance.
The high oil price relief fund can be used until August 31. Residents of Special Cities and metropolitan cities, including Sejong and Jeju Special Self-Governing Province, may use it within the relevant Special City or metropolitan city, while residents of provincial regions may use it in the cities and counties of their registered address. People who receive the funds as Local Love Gift Certificates can use them at affiliated merchants with annual sales of 3 billion won or less. Those who receive payment by credit or debit card or prepaid card can use them at micro enterprises with annual sales of 3 billion won or less, excluding entertainment and gambling businesses and some other sectors.
MOIS also plans to let people check where the relief funds can be used through private map apps, and the service will go live once data matching between card companies and map apps is completed at the end of April.
An appeals process has also been set up for people who disagree with the results of eligibility screening or the amount of support they received. The appeal period runs from May 18 to July 17. However, appeals that do not change eligibility status, such as adjustments to child support relationships, applications by minors on their own behalf, or moves between the capital area and Non-metropolitan areas, may also be submitted during the first application period, from April 27 to May 8.
Minister of the Interior and Safety Yun Ho-jung said, "I hope the high oil price relief fund will serve as a strong support for people struggling with the high oil prices, weak won, and rising inflation triggered by the war in the Middle East." He added, "The government will continue to provide support so that people can apply for, receive, and use the funds without inconvenience."
ktitk@fnnews.com Kim Tae-kyung Reporter