90% of citizens to get vouchers in second round of stimulus

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90% of citizens to get vouchers in second round of stimulus

Published: 12 Sep. 2025, 19:09 Updated: 12 Sep. 2025, 19:10

Audio report: written by reporters, read by AI

People walk through Myeongdong shopping district in central Seoul on Aug. 29. [YONHAP]

Korea will hand out 100,000 won ($72) vouchers to 90 percent of its citizens starting Sept. 22 as part of the government's second round of stimulus meant to revive spending and shore up household budgets.

Officials unveiled details of the plan and the criteria for excluding the wealthiest 10 percent of households from receiving the vouchers at a press briefing at the government complex in Seoul on Friday.

Households with a combined 2024 property tax assessment base exceeding 1.2 billion won will not receive the coupons.

The property tax assessment base is the value used to calculate property taxes, derived by multiplying the government-assessed market price by the "fair market value ratio." For residential properties, the ratio ranges from 45 to 60 percent.

For example, an 82.61-square-meter (889-square-foot) apartment in Jamsil Jugong 5 Complex in Songpa District, southern Seoul — one of Korea's priciest properties — has an assessed value of 1.97 billion won.

For a single-home owner, the taxable base would be 887.4 million won, calculated with a 45 percent ratio. For the owner of multiple homes, it would be 1.183 billion won, calculated with a 60 percent ratio — just under the cutoff, meaning they would still qualify. Households with apartments of lower assessed value would generally also qualify for the second round of vouchers.

A notice informing shoppers that government-issued consumer vouchers are accepted is posted at Cheongnyangni Market in Dongdaemun District, eastern Seoul, on Sept. 12. [NEWS1]

Households with a combined annual financial income — including interest, dividends and fund distributions — exceeding 20 million won will also be excluded. For instance, someone earning 5 million won in bank interest, 10 million won in stock dividends and 6 million won from funds would be ineligible.

In addition, households with June health insurance contributions exceeding the set threshold will not qualify. For single-person wage earners, the cutoff corresponds to an annual income of around 75 million won.

Monthly health insurance contributions must not exceed 220,000 won for a one-person household, 330,000 won for two people, 420,000 won for three people and 510,000 won for four people. Long-term care insurance fees are excluded.

For self-employed subscribers, the thresholds are slightly lower: 310,000 won for two people, 390,000 won for three and 500,000 won for four.

Officials said they have adjusted the rules so that single-person households — which include many young people and seniors — and dual-income families are not excluded. For example, a four-person dual-income household with a combined insurance contribution of up to 600,000 won will still qualify, even though the formal cutoff is 510,000 won.

Vice Minister Kim Min-jae of the Ministry of the Interior and Safety briefs the press on the second round of consumer voucher distribution at the government complex in Jongno District, central Seoul, on Sept. 12. [NEWS1]

As with the first round, individuals born before Dec. 31, 2006, must apply to receive the coupons, while minors can have them collected by the head of their household. Applications will be accepted from 9 a.m. on Sept. 22 through 6 p.m. on Oct. 31. Applicants can choose to receive the benefit on a credit or debit card, as a local gift certificate or a prepaid card.

The coupons cannot be used at large retailers, warehouse clubs, department stores or major online marketplaces and food delivery services like Coupang and Baedal Minjok. However, the government expanded usage starting Aug. 22 to include some Nonghyup Hanaro Marts and local food markets in rural areas.

Soldiers will be able to apply for prepaid cards at local government offices near their bases and use them at nearby businesses.

“We hope the second round of consumer coupons will build on the domestic consumption momentum created by the first round,” said Interior Minister Yun Ho-jung. “We will work to ensure a smooth application, distribution and usage process.”

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY MOON HEE-CHUL [[email protected]]