"No Age or Income Limits, Everyone Gets 100,000 Won... This City to Provide Subsidies to All Residents"

100,000 Won Per Gangneung Resident
All Residents Eligible Regardless of Income or Age
Gangneung Pay to Be Distributed Starting in Mid-November

Gangneung City in Gangwon Province will provide each resident with a cost-of-living stabilization subsidy of 100,000 won per person in an effort to ease the burden of living expenses caused by high inflation, high interest rates, and the slowing economy. The subsidy will be paid in the form of the local currency "Gangneung Pay," aiming not only to alleviate residents' financial burdens but also to boost local consumption.

Photo of livelihood recovery consumption coupon card. Not directly related to the text. Photo by Yonhap News Agency

Distribution to begin in mid-November...All residents eligible

On September 30, Gangneung City announced that it had officially promulgated the "Gangneung City Cost-of-Living Stabilization Subsidy Payment Ordinance" and has begun follow-up procedures for the subsidy distribution. Previously, at the 3rd plenary session of its 332nd regular session held on September 22, Gangneung City Council approved both the ordinance for the subsidy and the city’s second supplementary budget for 2026. The city plans to complete the remaining administrative procedures—such as the review by the subsidy review committee and the preparation of the recipient list—and to begin distributing the subsidies in mid-November.

Every resident of Gangneung is eligible for the subsidy, regardless of income, assets, or age. The subsidy will be paid in the local currency "Gangneung Pay" rather than in cash, with each recipient receiving 100,000 won. The total project budget amounts to 21.1 billion won. For a family of four, if every member qualifies, a total of 400,000 won will be provided to the household. The detailed criteria for eligibility, as well as the application period and method, will be announced later via the Gangneung City website and other channels as soon as they are finalized.

Reintroduced after July rejection...First approval of the 9th mayoral administration

This subsidy initiative marks the first project approved by Gangneung Mayor Kim Joongnam since the launch of the ninth directly-elected administration. The program is intended to simultaneously promote residents' economic stability and stimulate local consumption amid rising inflation and the ongoing economic downturn.

However, the ordinance was not passed the first time. At the 2nd plenary session of the 331st extraordinary session held at the end of July, a revised ordinance proposal was rejected. At the time, council members from the People Power Party raised concerns, pointing out the risk of allocating a substantial amount of taxpayer money without clear criteria or procedures.

In response, Gangneung City resubmitted the ordinance as an urgent agenda item for the September regular session, and the city council approved it on September 22. With the legal basis established for the subsidy payment, administrative procedures are now moving forward for actual implementation.

Payment via Gangneung Pay...Encouraging neighborhood business spending

Because the subsidy will be provided through Gangneung Pay instead of cash, the program aims not only to reduce residents' cost of living, but also to stimulate spending within the local community.

Gangneung City’s plan is to ease household burdens heightened by high prices and interest rates and to ensure that the subsidy is spent at local affiliated merchants, thereby revitalizing neighborhood businesses and the local economy. The policy goes beyond a one-time payout by using local currency to encourage consumption circulation within the community, making it a measure to stimulate the local economy.

Mayor Kim Joongnam stated, "I hope this measure provides practical help to residents struggling with inflation and high interest rates and serves as an opportunity to revitalize the stagnating neighborhood economy. We will do our utmost to ensure that all residents receive the subsidy without inconvenience."

This content was produced with the assistance of AI translation services.