South Korea's High Oil Price Relief Funds Set to Expire

The South Korean government is reminding citizens to use their high oil price damage relief funds before they expire on August 31st. The Ministry of the Interior and Safety notes that any remaining amount will automatically disappear after midnight.

The funds, totaling 6.1123 trillion won, were distributed to vulnerable groups such as the near-poor, single-parent families, and basic livelihood security recipients. Eligible recipients received payments ranging from 100,000 to 600,000 won per person.

A total of 35,403,928 applicants had their funds paid out in the first and second rounds, which closed on April 3rd. Despite a usage rate of 97.3%, about 95 billion won remains unspent.