South Korea to begin cash handouts to all citizens July 21 - The Korea Times \ stacker news ~econ

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South Korea to begin cash handouts to all citizens July 21 - The Korea Times www.koreatimes.co.kr/southkorea/society/20250705/south-korea-to-begin-cash-handouts-to-all-citizens-july-21

360 sats \ 11 comments \ @south_korea_ln 5 Jul econ

Quantitative easing is back~~

Under the plan, all South Korean citizens residing in the country as of June 18 will receive a one-time payment of 150,000 won. The government said the broad disbursement is intended to boost consumer spending nationwide.

[...]

A second round of payments, scheduled between Sept. 22 and Oct. 31, will provide an additional 100,000 won to the bottom 90 percent of income earners.

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191 sats \ 2 replies \ @ek 5 Jul

₩150,000 ≡ $110 ≡ €93

97 sats \ 1 reply \ @Bell_curve 20h

Euro is overvalue

EU is overrated

32 sats \ 0 replies \ @optimism 16h

All fiat and all states are overrated.

11 sats \ 4 replies \ @Undisciplined 5 Jul

Wow! That's as inflationary of a policy as there is. Biden did that here and historic CPI rises followed.

53 sats \ 3 replies \ @south_korea_ln OP 5 Jul

I'd like the krw to weaken a bit. Still a bit far from btc ath due to weakening dollars in last few months.

11 sats \ 0 replies \ @Undisciplined 5 Jul

Well, you're about to get it. Although, if @ek's right about how much purchasing power that represents, there might not be much impact.

0 sats \ 1 reply \ @Bell_curve 23h

Millionaires are fleeing South Korea

0 sats \ 0 replies \ @south_korea_ln OP 3h

Are they?

16 sats \ 1 reply \ @stack_harder 5 Jul

doesn't seem a lot, i'd put it straight in btc though.

11 sats \ 0 replies \ @south_korea_ln OP 5 Jul

I'd venture quite a few people might do something like this. Lots of shitcoining here though.

Last year, government added extra holidays to boost local spending. Turned out most people just used it to travel abroad. So much for accounting for unexpected side effects.

16 sats \ 0 replies \ @bitcoingecko 5 Jul

This is definitely good for Bitcoin!