South Korea Starts Rolling Out Cash Aid For Vulnerable Groups Amid West Asia Crisis

South Korea started rolling out cash aid for vulnerable groups, including basic livelihood security recipients and single-parent households, to mitigate financial strains caused by rising oil prices due to the West Asia conflict. The government allocated 550,000 won (US$372) for basic livelihood security recipients and 450,000 won (US$305) per person for single-parent households and those just above the welfare eligibility threshold. Recipients outside Seoul or in declining-population areas receive an additional 50,000 won. Applications run through May 8, with funds available via credit/debit cards, prepaid cards, or local currency vouchers, expiring on August 31. These funds can only be used at small businesses with annual sales of 3 billion won or less or those accepting local currency vouchers. The government plans to expand cash assistance to the bottom 70% of income earners, with recipient criteria announced early next month. Earlier, the National Assembly approved a 26.2 trillion-won extra budget bill to address economic fallout from the West Asia conflict.