Vice Minister of the Interior and Safety Kim Min Jae on Sept. 12 holds a news briefing on the second round of consumption stimulus coupons at Government Complex-Seoul in the capital's Jongno-gu District. (Ministry of the Interior and Safety)

By Aislyu Akhmetzianova

Application for the second round of the consumption stimulus program starts on Sept. 22 to provide KRW 100,000 per household for 90% of the population.

The government on Sept. 12 said this in announcing the plan for the second round at a joint news conference with relevant ministries at Government Complex-Seoul in the capital's Jongno-gu District.

The second round covers 90% of the public according to income level unlike the first, which provided KRW 150,000 to KRW 450,000 to every household from July 21.

Those excluded from this round are the top 10% whose property tax base exceeded KRW 1.2 billion last year or whose attributable financial income surpassed KRW 20 million.

Expats who meet the requirements are also eligible for the stimulus this round, namely registered foreign residents with at least one Korean national in their households and possessing the same eligibility for health insurance as Koreans; permanent residents with the F-5 visa, marriage immigrants (F-6) and recognized refugees (F-2-4) with health or medical insurance.

Application for the second round is from Sept. 22 to Oct. 31. The stimulus will not be disbursed in cash but in the same forms as the first: credit or check card, regional gift certificate or prepaid card.

aisylu@korea.kr