Gyeonggi Province Achieves 97.5% Payment Rate for High Oil Price Relief Fund..."Usable Until August 31"
The payment rate for the "High Oil Price Relief Fund" in the Gyeonggi region reached 97.5%.
According to the Gyeonggi Provincial Government on July 5, a total of 1.1955 trillion won in relief funds has been distributed to 9,125,000 residents in the first and second rounds combined, following the start of the first round on April 27 for vulnerable groups. This accounts for 97.5% of the total 9,363,000 eligible recipients.
By city and county, Gapyeong County, Osan City, and Gwangmyeong City recorded the highest payment rates, in that order.
In particular, the payment rate among first-round recipients, including basic livelihood security recipients and the near-poor, reached as high as 99%. This high rate is attributed to the Gyeonggi Provincial Government’s active efforts in collaboration with the 31 cities and counties, including outreach campaigns and on-site application services targeting vulnerable groups.
The High Oil Price Relief Fund is considered to have not only alleviated the financial burden on households but also stimulated local consumption. According to data from the Ministry of SMEs and Startups released on June 29, sales by small business owners in Gyeonggi Province increased by 9% compared to the same period last year during the three weeks from May 18, when the second round of relief payments began, to June 7.
Meanwhile, the distributed relief funds can be used until August 31, and any unused balance will be automatically cancelled after the deadline. As of July 3, approximately 88.6% of the funds have been used, according to the provincial government.
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Kim Jinhyo, Director of Welfare Policy at the Gyeonggi Provincial Government, stated, "Although the distribution of the High Oil Price Relief Fund ended on July 3, you can use the funds until August 31. We encourage everyone to use them within the deadline." He added, "We will continue to closely monitor the livelihoods of residents and support the recovery of the local economy."
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