27,000 residents yet to apply; 4.6 billion won ($2,970,000) unclaimed

City hopes spending will boost local markets and small businesses

Staff at the Sinjeong 2-dong Community Service Center in Nam-gu, Ulsan, process applications for the high oil price victim support fund. [Ulsan City]
Staff at the Sinjeong 2-dong Community Service Center in Nam-gu, Ulsan, process applications for the high oil price victim support fund. [Ulsan City]

Ulsan City is urging eligible residents to apply for its high oil price victim support fund, warning that 27,000 people have yet to claim a combined 4.6 billion won ($2,970,000) as of Tuesday. The city is publicizing eligibility criteria and application procedures through its website and other channels, with the deadline set for July 3.

The fund is open to basic livelihood recipients, near-poverty households, single-parent families and general residents in the bottom 70 percent of the income bracket. Those who missed the first round of payments may still apply during the second disbursement period.

Applications can be submitted online or in person at the community service center in the applicant's registered district. Funds disbursed must be spent by Aug. 31.

The city expects the payments to stabilize household finances while also stimulating local consumption. Because spending is restricted to Ulsan, officials anticipate the funds will help revive sales at traditional markets, restaurants and neighborhood shops, benefiting small business owners across street-level commercial districts.


cityblue@heraldcorp.com