South Korea to begin cash handouts to all citizens July 21

Merchants at Inwang Market in Seodaemun-gu watch a live broadcast on July 3 as President Lee Jae Myung holds a press conference marking his first 30 days in office. - Photo: Yonhap

SEOUL: South Korea will begin distributing cash handouts to all citizens July 21 as part of a government initiative aimed at stimulating domestic consumption, officials said Saturday (July 5).

The move follows the Cabinet's approval of a 31.8 trillion-won ($23.3 billion) supplementary budget, passed by the National Assembly on Friday.