NAJU — Naju in Jeonnam-Gwangju Integrated Metropolitan City has begun paying 200,000 won to each resident ahead of the Chuseok holiday, aiming to ease household strain from high prices and a sluggish economy while reviving spending at neighborhood shops. The payment is one of the signature livelihood pledges of Naju Mayor Yoon Byung-tae.
Payments began the previous day and are intended to provide residents with practical help toward living costs while giving small business owners and the self-employed a chance to recover sales, the city said on the 15th.
Eligible recipients are those who have maintained continuous resident registration in Naju from July 1 this year through the date of application, including marriage migrants and permanent residents. About 117,000 people qualify, with total spending of about 23.8 billion won. Each resident receives 200,000 won.
Applications are open until Oct. 16. Those applying online receive the money as a mobile Naju Love gift certificate, while those applying in person at township and neighborhood community service centers can receive a prepaid card. A visiting application service is also being run for residents with limited mobility.
A five-day rotation system is in place to reduce congestion in the early application period. Through September 18, applications are accepted according to the last digit of the applicant's birth year. From September 21, applications are open regardless of birth year.
The prepaid cards can be used at credit card merchants within Naju, and mobile Naju Love gift certificates at merchants participating in the Naju Love certificate program. For the convenience of residents in rural townships, the certificates may also be used, as an exception, at township-level Hanaro Mart outlets and public local food direct-sale stores. The funds must be spent by Nov. 30.
The city expects the payments to serve as more than one-off cash support, describing them as a trigger for a virtuous cycle in the local economy. When residents spend the money within the city, the consumption flows directly into sales at neighborhood businesses.
The city also expects a significant effect in easing grocery costs and reviving holiday spending, given that the payments are starting just before Chuseok.
Naju is running its application support system through township and neighborhood community service centers and related departments, and plans to continue strengthening guidance on how to apply, payment procedures and where the money can be used.
"I hope the livelihood recovery payments will ease the household burden on residents struggling with high prices and the economic downturn, and serve as priming water that brings vitality to the local economy," Yoon said. "Please join us in making sure the payments turn into local spending and provide real help to small business owners and neighborhood commerce."
