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Gangneung Achieves 98% Distribution Rate for High Oil Price Relief Funds
yonhap_finance · 2026-08-06
Gangneung City has successfully distributed over 98% of its high oil price relief funds, boosting local consumer spending and supporting small businesses.
What Happened
Distribution Status: Gangneung City has achieved a 98.6% application rate for its high oil price relief fund, with 30.6 billion KRW out of the 31.1 billion KRW budget successfully distributed. This performance ranks the city first in the province by total distribution amount.
Administrative Efforts: The city minimized application gaps by implementing proactive measures, including online and offline promotional campaigns and a mobile application service. These initiatives ensured that the vast majority of eligible residents could easily access the financial support.
Economic Impact: Approximately 95% of the distributed funds have been utilized, providing a significant boost to local small businesses and self-employed individuals. The program has served as a vital tool for stabilizing household finances and stimulating local commerce.
Usage Deadline: The relief funds must be utilized by the 31st of this month, after which any remaining balance will be automatically forfeited. Local officials are encouraging residents to spend the remaining funds to continue supporting the regional economy.