Will foreigners get Korea's stimulus money? Here's what we know so far.

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Will foreigners get Korea's stimulus money? Here's what we know so far.

Published: 20 Jun. 2025, 05:00 Updated: 22 Jun. 2025, 20:01

JIN MIN-JI
[email protected]

Audio report: written by reporters, read by AI

President Lee Jae Myung presides over a Cabinet meeting at the presidential office in Yongsan, Seoul, on June 19, 2025. [JOINT PRESS CORPS]

Central to the Lee Jae Myung administration’s first supplementary budget is a program under which each Korean citizen, according to their need, will receive vouchers worth at least 150,000 won ($109).

The operative word there is “citizen,” which has left many foreign residents of Korea asking: What about us?

The plan — worth 13.2 trillion won, or $9.6 billion, in total — is similar to disaster relief funds that cities distributed during the Covid-19 pandemic, which served as an emergency measure to recover the sluggish economy. Foreign residents were eligible for those vouchers, so it's feasible that they could receive these as well. But the government has not yet clarified which, if any, foreign residents may be included in its proposal.

“We have to establish specific standards,” said Kang Jun-mo, director of public relations at Ministry of Economy and Finance. “But they were granted in 2021.”

Here's what we know so far about foreigners' eligibility for the government's stimulus vouchers.

Will Korea's foreign residents receive stimulus vouchers?

The government hasn't decided yet.

The so-called emergency disaster relief funds the Seoul Metropolitan Government distributed during the Covid-19 pandemic were not initially offered to foreign residents, but the city changed its stance after a few months at the recommendation of the National Human Rights Commission of Korea. Eligible were holders of D-1, D-3 and D5–10 visas; all E visas; F-2, F-4 and F-5 visas; G-1 visas with the exception of the G1-10; and all H visas. Notably excluded from Seoul's program were holders of D-2 student visas and D-4 language training visas.

To apply, foreigners also needed to have been a registered resident of Seoul, with a resident card, for at least 90 days, and to make income below Korea's median. Those who had received unemployment benefits or certain other government-provided monetary support that year were excluded.

When will the vouchers be distributed?

The vouchers will likely have an expiration date. Applications for the funds Seoul distributed during the Covid-19 pandemic opened on Aug. 31, and the funds needed to be spent by mid-December.

To ensure they are used by the end of the year, these coupons will likely need to be distributed by the end of August at the latest. The first round of coupons will be given to all citizens, and since those eligible for additional funds have already been identified, their payments can be made relatively quickly.

The government plans to submit a supplementary budget bill National Assembly on June 23, with distribution expected to start around two weeks after that bill passes.

How will the vouchers be distributed?

The vouchers will be distributed in two phases. In the first phase, every citizen will receive a minimum of 150,000 won. Those classified as “near-poor” will receive 300,000 won, and recipients of national basic livelihood guarantees will receive 400,000 won each. An additional 20,000 won will be provided to residents of 84 rural and fishing areas facing population decline.

In the second phase, 100,000 won will be distributed to all citizens, excluding those whose income is in the top 10 percent.

In short, individuals may receive anywhere from 150,000 won to 520,000 won.

Recipients can choose from gift certificates, prepaid cards or credit or debit cards.

Where can the vouchers be used?

The government plans to form an interdepartmental task force soon to establish detailed guidelines, including the specific timing of distribution and authorized places of use. It's likely that the vouchers will be usable at most commercial establishments excluding casinos and entertainment venues.

How will the top 10 percent be identified?

The process is likely to take at least a month. The Ministry of the Interior and Safety will categorize households based on resident registration certificates and health insurance premiums, with different standards based on household size.

Health insurance premiums are divided into regional and workplace subscribers. Will that difference play into the government's income classification?

The real estate assets held by regional subscribers are included in the calculation of their insurance premiums, whereas workplace subscribers are assessed based solely on their income. This means even workplace subscribers who own real estate worth tens of billions of won may be excluded from the top 10 percent if their income is low.

For this reason, when Covid-19 pandemic disaster relief funds were distributed, a separate cutoff, based on financial income and real estate assets, was established for workplace subscribers. At that time, the threshold was set at 1.5 billion won for real estate and 20 million won per year for financial income.

Shoppers browse Namdaemun Market in central Seoul on June 22. The government’s plans to distribute consumer vouchers? ranging between 150,000 won ($109) to 500,000 won based on an individual’s income --through supplementary budget is expected to boost spending. [YONHAP]

Are consumption coupons the same as discount coupons?

Separately from the consumption coupons, the government is allocating 77.8 billion won to providing 7.8 million discount coupons aimed at boosting consumption in five major sectors. These include 500,000 accommodation coupons, 4.5 million movie tickets, 700,000 sports facility coupons, 1.6 million art exhibition tickets and 500,000 won performing arts tickets.

Unlike the consumption coupons given to all citizens, these discount coupons have limited availability and will be distributed on a first-come, first-served basis. The platforms or applications to be used for each sector have not yet been finalized.

BY JANG WON-SEOK,JIN MIN-JI [[email protected]]