"Can I Receive It?"...Second Round of High Fuel Price Relief Criteria to Be Announced on the 11th

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[Financial News] The government will announce the second-round eligibility criteria for Financial Assistance for Damages Caused by High Fuel Prices on the 11th. The second payment will be made from the 18th to the bottom 70% of the population, excluding vulnerable groups, and the amount will range from 100,000 won to 250,000 won per person depending on where they live. The government is expected to screen recipients based on health insurance premiums, while excluding high-asset households.
According to the Ministry of the Interior and Safety (MOIS) on the 10th, the government plans to release the selection criteria and application process for the second round of Financial Assistance for Damages Caused by High Fuel Prices on the 11th. Applications for the second round will run from the 18th to July 3.
The second-round recipients will be the bottom 70% of the population, excluding vulnerable groups that received the first round, such as welfare recipients, the near-poverty class and single-parent families. That leaves 32.56 million eligible people, excluding 3.21 million vulnerable individuals.
The payment amount will vary by region. Residents of the Seoul metropolitan area will receive 100,000 won per person, while those in non-metropolitan areas will receive 150,000 won. Residents of Population-Declining Areas designated by the government as Preferential Support Areas will receive 200,000 won, and those in Special Support Areas will receive 250,000 won.
The government is expected to apply the same screening method based on health insurance premiums that it used when distributing the second round of the Livelihood Recovery Consumption Coupon last year. At the time, households were selected if the total amount of their own health insurance premium contributions fell below a certain threshold.
However, this round of Financial Assistance for Damages Caused by High Fuel Prices will cover only 70% of the population, down from 90% previously, and changes in income and household composition may also be reflected. As a result, a simple comparison is difficult, and people should check the government’s official selection criteria table to confirm whether they are eligible.
High-asset households are also expected to be excluded. When the Livelihood Recovery Consumption Coupon was distributed last year, households were excluded if the total property tax base of household members exceeded 1.2 billion won or if total financial income, including interest and dividends, surpassed 20 million won. A property tax base of 1.2 billion won corresponds to an officially assessed home value of about 2.67 billion won for a single-home owner.
Special rules for single-person households and dual-income households may also be applied. Last year, separate standards were introduced to reflect the characteristics of single-person households, which have a high proportion of young and elderly people, and dual-income households were assessed using a standard that added one more household member. For example, a two-person dual-income household was judged against the criteria for a three-person household.
Meanwhile, applications for the first-round support payment for welfare recipients, the near-poverty class and single-parent families closed on the 8th. The application rate for the first round reached 91.2%, with 2,944,073 people completing applications. The total amount distributed was 1.6728 trillion won. Vulnerable groups that missed the first application period may apply again during the second-round payment period.
spring@fnnews.com Lee Bo-mi Reporter