Seodaemun-gu's High Oil Price Victim Support Fund Surpasses 94% Payout Rate

Seodaemun-gu announced Friday that its "high oil price victim support fund" — introduced to ease residents' financial burden amid surging international oil prices — has exceeded a 94 percent payout rate, with the project entering its final stage.

The district urged residents who have not yet applied to do so before the July 3 deadline at 6 p.m.

The district accepted first-round applications from April 27 to May 8, targeting recipients of basic livelihood benefits, the near-poor and single-parent families. A second round has been underway since May 18.

As of June 10, 171,348 of the 182,274 eligible residents had applied, recording a payout rate of 94 percent, with total disbursements reaching 23.6 billion won (about $15.5 million).

Among payment methods, credit and debit cards were the most popular, followed by prepaid cards available through community service centers.

Payment amounts are set at 100,000 won per person for residents in the bottom 70 percent of the income bracket, 550,000 won for basic livelihood benefit recipients, and 450,000 won for the near-poor and single-parent families.

The second-round application period runs until 6 p.m. on July 3. Eligible applicants include basic livelihood benefit recipients, the near-poor and single-parent families who missed the first round, as well as all residents in the bottom 70 percent income bracket. Residents registered in Seodaemun-gu as of March 30 are eligible to apply.

Prepaid cards can be obtained at the community service center covering the applicant's address. Credit and debit card applications are available through each card company's website, mobile app or call center. Seoul Love Gift Certificates can be applied for via the Seoul Pay Plus app.

The funds can be spent at small businesses with annual sales of 3 billion won or less through midnight on Aug. 31, which the district said is expected to help stimulate the local economy.

Use is restricted at some business types, including hypermarkets and department stores. Gas stations, however, are exempt from the sales-cap restriction regardless of revenue — a carve-out reflecting the project's core purpose of relieving residents' burden from high fuel costs.

Seodaemun-gu is also running a "doorstep application service" for elderly residents with limited mobility, people with disabilities and those living in care facilities.

"We will actively promote the program until the deadline so that every eligible resident receives support without exception, and we will do our utmost to keep the doorstep application service running to the end," a district official said.