Jeonbuk Buan-gun Decides to Provide 300,000 Won Livelihood Stability Support to All Residents

Jeonbuk Buan-gun has decided to provide 300,000 won per person as 'livelihood stability support' to all residents.

On the 19th, Buan-gun announced that it made this decision to help residents stabilize their lives amid challenges such as high inflation, economic recession, and high-interest rates.

This support program is separate from the government's emergency living support and is being carried out at the local government level. Buan-gun has prepared the second supplementary budget for 2025 in consultation with the council.

The necessary budget will be secured through the integrated financial stabilization fund and some adjustments to certain projects, with plans to disburse the funds before the Chuseok holiday.

Eligibility and Payment Method

The recipients of the livelihood stability support will be those residents who have continuously maintained their resident registration address in Buan as of the 12th until the application date.

Foreigners who have obtained marriage migration status or permanent residence status as per relevant laws are also included in the support category.

The support will be provided in the form of prepaid cards, which is expected to encourage local consumption and contribute to revitalizing the local economy.

Considering that the population of Buan-gun is approximately 50,000, the budget scale for this support is estimated to be about 15 billion won.

Buan-gun Mayor Kwon Ik-hyun stated, "The long-term high inflation and high-interest rates are increasing the burden on residents' livelihoods. We will quickly provide this support before the Chuseok holiday to inject warmth into the struggling local economy and help stabilize the lives of Buan residents."

The provision of this livelihood stability support can be seen as an active response from local governments in a situation where the economic recession has been prolonged following COVID-19, and difficulties in the livelihoods of ordinary people have intensified due to rising prices and interest rates. Especially since it is being distributed ahead of the Chuseok holiday, it is expected to have a positive impact on local small business owners and self-employed individuals.

Buan-gun's decision serves as an example of local governments directly supporting the economic hardships of their residents and may influence similar policy implementations in other local governments.

Image sources: Jeonbuk Buan-gun Office view / News1, AI-generated image for article understanding / Bing Image Creator, Mayor Kwon Ik-hyun of Buan-gun / News1