The distribution of "relief funds for high oil prices" was launched on April 27. Shown are people at a community center in Seoul's Gangseo-gu District applying for the funds. (Yonhap News)

By Margareth Theresia

The launch of "relief funds for high oil prices" has a cap of KRW 600,000 per person, with foreign residents who are eligible to receive them as well.

The Ministry of the Interior and Safety on April 27 began accepting applications both online and offline for the subsidies. The date for receiving the funds depends on the last digit of a recipient's birth year to prevent congestion in the first week of the program.

The first round of payments will be disbursed through May 8. Those eligible are limited to recipients of basic livelihood welfare (KRW 550,000), those in the next-lowest income bracket (KRW 450,000) and single-parent families (KRW 450,00).

Residents of areas outside of the greater Seoul metropolitan region (Seoul, Incheon and Gyeonggi-do Province) and those in places at risk of depopulation will each receive an additional KRW 50,000.

The second round of payments is scheduled from May 18 to July 3, with some 70% of the population eligible, excluding those with high net worth as defined by health insurance premiums.

Foreign residents are eligible if they are listed on a family register that includes one citizen and are enrolled in national health insurance or receive medical assistance. Foreign singles can also get the funds if they are permanent residents (F-5 visa), marriage immigrants (F-6) or recognized refugees (F-2-4) and meet the requirements.

Applications can be submitted both online and offline. An online application will have the amounts deposited into a recipient's credit or debit card or mobile or card-based regional gift certificates. An offline application requires a recipient to go to a branch of the bank linked to the program.

Paper gift certificates or prepaid cards can be picked up at an administrative welfare center in a recipient's area.

The subsidies must be used by Aug. 31 exclusively at small businesses with annual sales of KRW 3 billion or less within the jurisdictions of a recipient's registered address.

margareth@korea.kr