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S. Koreans to get cash back on card spending in latest COVID-19 relief fund Updated: 2021-09-27 13:39:34 KST


The South Korean government has created a new Covid-19 relief fund, in the form of giving cash back on card spending.
From October to the last day of this November, those who spend more than usual will get a sliver of their card spending added back to their bank accounts.
The Finance Ministry announced on Monday that anybody in South Korea who spends at least three percent more than their average monthly spending in the second quarter, will get ten percent of their extra expenses back, up to a maximum of 85 U.S. dollars.
The government is putting almost 600 million U.S. dollars into the scheme.
The funds aim to boost spending in small, local businesses to get the economy moving.
So overseas purchases, spending at big supermarket chains, major department stores and outlets, and spending on high-end brands will not be included in this cashback scheme.
Anyone in South Korea who's using a South Korean credit or debit card, including foreigners, can apply by calling their card company or visiting its website starting from October.
Applications will be open until November 30th, but if the total funds allotted to this scheme run out faster than expected, applications could close earlier than announced.
Kim Yeon-seung, Arirang News
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