How to Get Your Stimulus Checks in South Korea [April 2021]
Are you an expat in South Korea?
Then, you can get the same benefits as Korean citizens.
Korea has been offering coronavirus stimulus checks for since last year as cash wired to your bank account.
Let’s check out which stimulus check you can get in April, 2021!
4th Stimulus Check (4차 재난지원금)
The 4th Stimulus Check in South Korea is called, “버팀목자금 플러스”.
It’s to support small business owners who are suffering from the spread of COVID-19.
If you have a business registered in Korea, you’re most likely to be eligible, and you can apply here.
Who is eligible for 4th Stimulus Check (4차 재난지원금)?
- Any business registered with the National Tax Service (국세청)
- Small businesses with sales less than 1-12 billion won as of 2020
(F&B and accommodation: 1 billion, wholesale and retail: 5 billion, manufacturing: 12 billion, etc.)
Sales that declined for general industries: Less than 1 billion won in annual sales
- Open date for business before February 28, 2021 on the business registration certificate
- Open for business without being temporarily or permanently closed
How much can I get from the 4th Stimulus Check (4차 재난지원금)?
1. If your business was shut down for longer than 6 weeks, such as an adult entertainment business (5 types), holdem pub, karaoke, indoor sports facility, door-to-door sales facility and indoor standing concert hall in Seoul Metropolitan Area, or adult entertainment business (5 types) and holdem pub in Non-metropolitan Area, you can get 5,000,000 won (about 4,425 USD) cash.
1-1. If your business was shut down for less than 6 weeks, such as an outdoor winter sports facility, party room, academy (hagwon) and closed-type outdoor screen golf in Seoul Metropolitan Area, or outdoor winter sports facility and party room in Non-metropolitan Area, you can get 4,000,000 won (about 3540 USD) cash.
2. If your business was restricted and sales in 2020 decreased from 2019, you can get 3,000,000 won (about 2655 USD) cash.
This type includes:
- restaurant, café, lodging business, hair salon, PC room, study room/cafe, vocational training institution, arcade, multi-room, amusement park, water park, bathing facility, movie theater, and general retail business (over 300㎡) in Seoul Metropolitan Area
- restaurant, café, lodging business, karaoke, indoor sports facility, academy (hagwon), door-to-door sales facility, and indoor standing concert hall in Non-metropolitan Area
3. If your business is in a general industry and not subject to government shutdown or restriction, and sales in 2020 decreased from 2019, you can get either 1,000,000 won (885 USD) or 2,000,000/2,500,000/3,000,000 won.
This is the strangest criteria. Your business should belong to the 112 industries in 10 fields with more than 20% sales decrease in 2020 compared to 2019 (industry average).
- Decrease rate of 20-40%: You’ll get 2 million won
- 40-60%: 2.5 million won
- 60% or more: 3 million won
If your sales in 2020 decreased from 2019 (annual sales of less than 1 billion won), you can get 1,000,000 won.
If you own multiple businesses, you can get stimulus checks for up to 4 businesses.
When and where can I apply for the 4th Stimulus Check?
- For those eligible for expedited payment (who received a text message from the government), you can apply from March 29, 2021 on this official website.
- Those with multiple businesses can apply from April 1, 2021.
- If your business is registered under joint owners (공동 대표 사업체), you can apply on April 26, 2021 with a power of attorney signed by another owner.
How to apply?
- Go to website: https://버팀목자금플러스.kr
- Click 신청하기 (apply)
- Scroll down all the way and click 모두 동의 (agree with all), then click 확인 (ok)
- Enter your business registration number and click 대상여부 조회 (check eligibility)
- Verify yourself through Korean mobile phone number or 공동인증서 (certificate)
- Enter additional info, including business name, address and bank account
- Get cash!
Seoul City Stimulus Check (서울시 재난지원금)
If your business is registered in Seoul and you received the 4th Stimulus Check above, you’re most likely to get more cash from Seoul.
The catch is that your business should be shut down or restricted by the government.
If your business is in a general industry (일반업종), you won’t qualify.
How much I can get from Seoul City Stimulus Check?
- Business with extended shutdown will receive 1,500,000 won cash.
- Business with lifted shutdown will receive 1,200,000 won cash.
- Business restricted by the government will receive 600,000 won cash.
- If your business is permanently closed due to COVID-19, you can get 500,000 won cash.
- Tourism or MICE (Meetings, Incentives, Conferences and Exhibitions) companies can get 2,000,000 won cash.
- Also, artists in Seoul can get 1,000,000 won.
When and where can I apply for a Seoul City Stimulus Check?
Currently, Seoul City is forming a system and each district (구 or Gu) will announce detailed info.
For applying online, you’ll either need a Korean mobile phone number or bank certificate (공동인증서) for identification.
You might get better help at a Gu office (구청).
Gyeonggi-do Stimulus Check (경기도 재난지원금)
Are you a resident of Gyeonggi-do?
Gyeonggi-do residents can receive 100,000 won (as in Gyeonggi local currency) per person.
Expats can apply here from April 1, 2021 to April 30, 2021.
Am I eligible for a Gyeonggi-do Stimulus Check?
You are eligible as long as your address is registered in Gyeonggi-do as of January 19, 2021.
How much can I get from a Gyeonggi-do Stimulus Check?
100,000 won per person as in Gyeonggi local currency card.
How long can I use a Gyeonggi-do Local Currency Card?
You can use it for 3 months from the date of approval message by June 30, 2021.
Where can I use Gyeonggi-do Stimulus Check?
You can use a Gyeonggi-do Local Currency Card at any store with annual sales less than 1 billion won in your city.
Stores in traditional markets can accept the local currency card, even if their annual sales are over 1 billion won.