Gangneung, Gangwon Province, is fully moving forward with providing livelihood stabilization subsidies to all citizens to ease the burden on residents struggling with high inflation and interest rates and to inject vitality into the local economy.

The livelihood stabilization subsidies will be provided to all citizens regardless of income, assets, or age, at 100,000 won per person.

Gangneung City plans to begin distribution in mid-November through Gangneung Pay, the local currency.

The total project budget amounts to 21.1 billion won.

Previously, the Gangneung City Council passed the ordinance on the provision of Gangneung City livelihood stabilization subsidies on the 22nd.

This cleared the council hurdle after being resubmitted following a rejection last July.

Accordingly, Gangneung City is proceeding with administrative procedures for the distribution of the livelihood stabilization subsidies, including promulgating the relevant ordinance.

The Mayor of Gangneung stated, "We hope that this subsidy will provide practical help to citizens going through difficult times due to high inflation and high interest rates, and serve as an opportunity to breathe new life into stagnant neighborhood commercial districts."

Reported by Jung Da-eun | Video by Lee Eui-seon | Graphics by Yang Hye-min | Produced by SBS Digital News