Sokcho City pays 15.3 billion won in livelihood recovery support to 76,446 people... Utilization rate 80.6%

Effect of easing the burden on citizens’ households and promoting local consumption amidst high oil and high inflation prices

(Sokcho = Yonhap News) Reporter Ryu Ho-jun = As a result of Sokcho City in Gangwon-do closing the application for livelihood recovery support funds, it was calculated that approximately 15.3 billion won was paid to 76,446 citizens.

The city announced on the 14th that as a result of closing applications for public livelihood recovery support funds on the 11th, a total of 15,289.2 million won was paid to 76,446 people, or 96.5% of the total 79,238 eligible for payment.

The livelihood recovery subsidy is Mayor Lee Byung-seon's first pledge, and was paid out for eight weeks from July 20 to September 11 to ease the economic burden on citizens due to high oil prices and high inflation and to promote consumption in the region.

The subsidy amounted to 200,000 won per person and could be received through recharging the Sokcho Love Gift Certificate app and using a prepaid card.

For the convenience of citizens, applications were made both online and by visiting the community center.

Among the subsidies paid, the amount actually used was 12.2745 billion won as of the 4th, when data collection by financial institution was completed, accounting for 80.6% of the amount paid up to that time.

Looking at the proportion of usage by industry, restaurants were the highest at 37.0%, followed by convenience stores, supermarkets, and marts at 21.8%, clothing, miscellaneous goods, and glasses at 7.3%, medical/healthcare at 6.0%, and gas stations at 5.3%.

In particular, the amount spent in restaurants, convenience stores, supermarkets, and marts was about 7.2 billion won, accounting for 58.7% of the total amount spent.

It was analyzed that the subsidy was used mainly in areas closely related to citizens' daily lives, such as meals and grocery purchases, and that it also helped the sales of local small business owners and self-employed people.

The support money received can be used until November 30th.

The city plans to continue providing information through promotional materials and social networking services (SNS) to ensure that the remaining support funds are used up within the expiration date.

Mayor Lee Byeong-seon said, "The subsidy is relieving the household burden of citizens and at the same time leading to consumption in various parts of the region, including restaurants and retail stores."