First Round of High Fuel Price Support Payments Begins Today... "Funds Will Expire After August 31"

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[The Financial News] The first round of Financial Assistance for Damages Caused by High Fuel Prices for people struggling with prolonged high fuel prices, a weak won and high inflation due to the extended Middle East war will begin on the 27th.
Eligible recipients include vulnerable groups such as basic livelihood recipients, near-poor households and single-parent families. The government said the measure is intended to protect groups with limited capacity to respond to crises first.
According to the Ministry of the Interior and Safety (MOIS), the support amount has been set at 550,000 won per basic livelihood recipient and 450,000 won for near-poor households and single-parent families. Residents outside the Seoul metropolitan area or in population-declining regions will receive an additional 50,000 won per person, bringing the maximum to 600,000 won.
The application period runs for about two weeks, from 9 a.m. on the 27th to 6 p.m. on May 8. Recipients can choose to receive the funds through a credit card, debit card, prepaid card or Local Love Gift Certificate.
However, during the first week of applications, a birth-year-based staggered system will be applied to prevent congestion and system overload.
Those with birth years ending in 1 or 6 may apply on Monday, 2 or 7 on Tuesday, 3 or 8 on Wednesday, and 4 or 9 and 5 or 0 on Thursday. Applications will be accepted without the staggered system on May 1, International Workers' Day.
Funds applied for through credit or debit cards will be loaded the next day.
Those who want to receive the funds on a credit or debit card can apply online through the card issuer's website, app or call center. Mobile and card-type Local Love Gift Certificates can be applied for through the local government's Local Love Gift Certificate app or website.
Those who wish to receive paper Local Love Gift Certificates or prepaid cards must visit the administrative welfare center of the township, town or neighborhood office in their area of residence.
People who fail to apply during the first round can also apply during the second payment period, which runs from May 18 to July 3. The second round will cover 70 percent of the population, including first-round recipients, and the selection criteria will be announced in early May.
The funds must be used by August 31, after which any remaining balance will automatically expire.
Residents of special cities and metropolitan cities, including Sejong and Jeju, can use the funds within that city, while residents of provinces can use them within the city or county corresponding to their address.
The funds can be used at small business stores with annual sales of 3 billion won or less. Use is restricted at online shopping malls, delivery apps, entertainment and gambling businesses, and cash-equivalent businesses. However, face-to-face payments using a merchant's own terminal are exceptionally allowed.
In township and village areas where consumer conditions are poor, Nonghyup Hanaro Mart, Local Food Direct Sales Store, local consumer cooperative and The Beautiful Store Foundation have been added to the list of eligible merchants.
The government plans to provide information on eligible merchants through private map apps starting around the end of this month.
It will also temporarily waive the issuance fee for resident registration certificates and copies needed to apply for the funds. Online issuance through Government24 is already free, but visitors to community centers have had to pay 400 won per copy, while users of unmanned civil service kiosks have paid 200 won per copy. The waiver will apply only during the first and second application periods.
People who disagree with the results of the beneficiary selection or the amount of support can file an objection through e-People or the administrative welfare center of their township, town or neighborhood office from May 18 to July 17.
The National Office of Investigation under the National Police Agency will conduct a special crackdown on illegal activities for about four months from the 27th through August, in line with the payment of the funds.
The main target will be so-called card cashing, or fraudulent sales and service transactions, in which a card is used for payment without any actual goods being traded and cash is then returned. Authorities will also crack down on using another merchant's card terminal at stores with annual sales exceeding 3 billion won, where the funds cannot be used, as well as on so-called direct transaction scams that lure victims by offering to sell support-fund points or gift certificates at a discount and then steal them.
Park Seong-ju, head of the National Office of Investigation, said, "We will track down and strictly punish those who seek unfair gains by buying and exchanging points and gift certificates without any actual goods transaction, contrary to the purpose of the Financial Assistance for Damages Caused by High Fuel Prices."
Interior and Safety Minister Yun Ho-jung said, "I hope the Financial Assistance for Damages Caused by High Fuel Prices will serve as a lifeline for people struggling with high fuel prices, a weak won and high inflation," adding, "We will support the process so there are no inconveniences in application, payment or use."
Inquiries about the support funds can be made through the Government Civil Complaint Call Center (Kukmin Call 110), the Dedicated Call Center for the High Oil Price Damage Support Fund (1670-2626), or local government call centers.
sms@fnnews.com Sung Min-seo Reporter