Residents apply for the victim support fund at the Gaegeum 3-dong community center in Busanjin-gu, Busan. [Yonhap]
Residents apply for the victim support fund at the Gaegeum 3-dong community center in Busanjin-gu, Busan. [Yonhap]

The Ministry of Interior and Safety announced Sunday that the high oil price victim support fund will expire at midnight on Aug. 31.

As of 8 a.m. Tuesday, 3.45 trillion won ($2.55 billion) — or 97.3 percent — of the 3.55 trillion won disbursed via credit and debit cards had already been spent.

Any unspent balance will be automatically forfeited after the deadline, and the ministry urged recipients who have not yet used their full allotment to spend it before time runs out.

The ministry, working with local governments and credit and debit card companies, has been continuously notifying recipients with remaining balances through the National Secretary alert service, text messages, and apps and websites.

"Thanks to the public's active use of the high oil price victim support fund at local businesses, neighborhood economies have gained renewed vitality," Interior and Safety Minister Yun Ho-jung said. "I urge those who still have a remaining balance to use it in full before the Aug. 31 deadline."


thlee@heraldcorp.com