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2026 policy changes to improve residents’ lives

 

The national government and Busan City have implemented a range of initiatives to significantly improve residents' daily lives. Spanning economic policies, improved childcare, welfare, and public safety, the city continues its focus on ensuring a higher quality of life for its people. Here are some key initiatives to note:

◎ Increased minimum wage

The minimum hourly wage for 2026 is legally confirmed at 10,320 won, a 2.9% increase from last year. For an employee working 209 hours per month, the calculated monthly wage will be 2,156,880 won. Regardless of nationality, all workers in Korea are guaranteed a minimum hourly wage.  

◎ Dongbaek Jeon cashback rate

Dongbaek Jeon, Busan’s local currency, will adjust its cashback rates and limits starting this month. With a monthly spending limit of 500,000 won, users can receive 8% to 10% payback in points. A full 10% cashback is rewarded at local establishments with annual sales below 1 billion won, while an 8% rate applies to those with annual sales between 1 billion and 3 billion won. 

◎ Free childcare for all children ages 3-5

Starting in 2026, Busan will introduce free childcare for children ages 3 to 5. The city is strengthening the foundation for an entirely free early childhood education system by covering essential expenses, including childcare fees, extracurricular activity costs, and event-related parental contributions. These benefits are available to children of foreign nationals attending childcare facilities.

◎ Child allowance eligibility raised to 9 years old 

To ease the financial burden on families, Busan City is steadily expanding its childcare subsidies. This year, the city provides a 105,000-won monthly subsidy for children 9 and under. Take note that this subsidy is provided until the child officially turns 9.  

◎ Fire prevention

The Fire and Disaster Headquarters operates a dedicated online platform to protect vulnerable households from fire hazards. This initiative provides fire extinguishers and smoke detectors free of charge, along with thorough safety inspections of electricity and gas systems. Eligible groups include basic livelihood security recipients, households below 50% of the median income, multicultural families, single-parent families, seniors living alone and individuals with severe disabilities. Applications can be submitted through the department's official website (https://119.busan.go.kr/supportcenter01).

<Today's Vocabulary - 오늘의 단어>

welfare: 복지  expense: 비용, 지출  fire extinguisher: 소화기

Editor: Song Soomi

Copy Editors: Ryu Hyoseung, Anton J. Mapoy