The National Tax Service (NTS) will disburse the second-half Earned Income and Child Tax Credits for the fiscal year 2025 to stabilize the livelihood of low-income working households.

On the 26th, the NTS announced that it will make a lump-sum disbursement of KRW 1.8087 trillion in Earned Income and Child Tax Credits to 1.92 million households with only earned income. The recipients include 1.79 million households (KRW 1.6475 trillion) for the Earned Income Tax Credit and 130,000 households (KRW 161.2 billion) for the Child Tax Credit. Including the KRW 553.3 billion disbursed for the first half of the year last December, the total tax credits for the fiscal year 2025 will amount to KRW 2.362 trillion, benefiting 2.04 million households.

According to the NTS, single-person households accounted for approximately 70% of the recipients this time, at 1.26 million households. By age group, those aged 60 and above made up 46% of the total recipients at 830,000 households.

Applicants with income other than earned income are considered regular applicants and will receive payments on August 27 after a screening process.

The tax credits will be deposited into the account selected at the time of application. Cash recipients can claim their payments at post offices by presenting their ID and the national tax refund notice; if the notice is lost, it can be reprinted by visiting a local tax office or using Hometax.

The NTS explained that the disbursement results were sent via mail and mobile notifications, and can also be verified through Hometax, the Automated Response System, and the Tax Credit Counseling Center.

[This article was written with the assistance of AI. Please make sure to check official government announcements for any changes to the system or payment schedules.]