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The High Oil Price Relief Fund will help residents deal with high prices

 

Busan will begin disbursing cash relief payments to help citizens cope with high fuel and consumer prices. The first round of payments from the “High Oil Price Relief Fund” will be distributed from April 27 to May 8 and will go to the city's most vulnerable citizens.

Recipients of basic living security will receive 600,000 won, while those in the lowest-income brackets and single-parent households will receive 500,000 won.

Those who miss the first-round application period can apply and receive payments during the second round, which runs from May 18 to July 3.

The second round will expand eligibility to the bottom 70% of residents meeting certain income criteria. Residents of Dong-gu, Seo-gu, and Yeongdo-gu, which are designated as population-decline areas, will receive 200,000 won per person. In contrast, those in the remaining 13 districts and counties will receive 150,000 won. 

Eligible recipients are residents registered in Busan as of March 30. Adults may apply individually; minors must have their head of household apply on their behalf. However, minors without a head of household may apply directly.

Applications can be made online or offline. Online applications are available on credit card company websites and apps. The app for Dongbaek Jeon, Busan’s local currency, can also process applications.

For offline applications, credit and debit card users can apply at bank branches affiliated with their card issuer; Dongbaek Jeon applicants can visit BNK Busan Bank branches; and prepaid card applicants can apply at their local administrative welfare centers.

The relief funds can be used at small businesses in Busan, excluding restricted sectors such as the entertainment and gambling industries. The funds must be used by Aug. 31, and any unused balance will be automatically forfeited.

Busan is holding a special event for citizens who apply for and receive “High Oil Price Relief Fund” payments through Dongbaek Jeon.

Citizens who spend a cumulative total of 150,000 won or more of their relief payments via Dongbaek Jeon will be automatically entered into a lottery.

The lottery will award 50,000 won (10 winners), 30,000 won (100 winners), or 10,000 won (10,000 winners) in prizes.

Winners will be announced in August through the Dongbaek Jeon app and website (busandong100.kr)

Finally, international residents are also eligible to receive payments from the “High Oil Price Relief Fund” under the following conditions:

-The applicant is listed on a resident registration record that includes at least one Korean national, AND the applicant is enrolled, either as an insured person or dependent, in the Korean National Health Insurance system.

OR

-In households consisting only of international residents, the applicant holds an F-5 (permanent residence), F-6 (marriage immigrant) or F-2-4 (recognized refugee status) visa, AND the applicant is enrolled, either as an insured person or dependent, in the Korean National Health Insurance system or receives some medical benefit.

※ High Oil Price Relief Fund

◎ Dongbaek Jeon Website: Click 

◎ Inquiries: City Hall’s Small Business Support Division, 051-888-4794

<Today's Vocabulary - 오늘의 단어>

vulnerable: 취약한 expand: 확대하다 eligibility: 자격 afilliate with: ~와 제휴하다 automatically: 자동적으로 forfeit: 몰수당하다

Editor: Song Soomi

Copy Editors: Ryu Hyoseung, Anton J. Mapoy