SEOUL: The Seoul Metropolitan Government said Sunday (Feb 9) that newlyweds who register their marriage in the city will be offered 1 million won (US$685) in cash, or an equivalent amount of cash points that can be used in local communities, starting from October.
The plan is to support the newlyweds with subsidy in purchasing living appliances and furniture needed as they move into the house together, the city government said.
Authorities said that they are currently in talks with the Ministry of Health and Welfare to execute the plan from October.
To be eligible for the subsidy, a couple's total income must not exceed 150 percent bracket of the average income — meaning the total income a two-person household should be approximately 5.8 million won or less.
Marriage registration must also be carried out in Seoul this year. An age limit will be announced later this year.
An estimated 20,000 couples are expected to benefit from the new cash assistance programme.
The city also plans to expand the scope of the assistance later this year to include those earning up to 180 percent of the average income, approximately 7 million won for a two-person household.
Similarly, Gyeonggi Provincial Government also plans to offer 1 million won for marriage preparation costs.
Those aged between 19 and 39 who have registered their marriage this year and have lived in Gyeonggi Province for more than a year are eligible for the cash assistance.
Marriage ceremonies in Korea are typically carried out separately from the official registration.
The online registration for the Gyeonggi subsidy opens in June, with the issuance planned in October. - The Korea Herald/ANN
