Ahead of the Lunar New Year holiday, some local governments are once again providing 'livelihood stabilization support funds.' [Photo=Yonhap News]

Ahead of the Lunar New Year holiday, some local governments are once again providing 'livelihood stabilization support funds.' In particular, Goesan County in Chungbuk announced a support plan of 500,000 won per person, a record high.

Goesan County announced that it would provide 500,000 won to all county residents under the pretext of stabilizing residents' livelihoods and vitalizing the local economy. The application period is from the 19th to February 27th, and all residents with addresses in Goesan County are eligible.

Namwon City in Jeonbuk also decided to provide 200,000 won in support to approximately 76,000 citizens. Applications can be submitted from February 2nd to the 27th, and all citizens with addresses in Namwon City as of December 31st, 2025, are eligible.

This includes marriage immigrants and permanent residents. Namwon City plans to invest a total budget of 15.2 billion won in this livelihood support.

Experts diagnose that "the impact of cash support like livelihood stabilization funds on the economy is like the two sides of a coin." While it can be a 'primer' that invigorates local businesses in the short term, it comes with the significant costs of inflation and national debt in the long run.

In particular, when combined with the Lunar New Year holiday, there is a risk of "further driving up prices of daily necessities such as agricultural and livestock products, thereby reducing the actual purchasing power of ordinary people," raising the possibility of negative effects.

Some voices suggest, "Isn't this a populist measure aimed at the nationwide local elections scheduled for June 3rd?"

Reporter Lim Yo-hee