The amount of the food allowance in the Kim Young-ran law may be altered from March in order to help domestic demand.
Currently, the “3-5-10” law allows 30,000 won for food, 50,000 for gifts and 100,000 won for congratulatory speeches. However, the government is looking to change the law to “5-5–10”, which would increase the food law to 50,000 won.
The proposed alternation to the law is a welcome sign to food and restaurant businesses who have been struggling since the law was enacted last year.
If passed, it’s expected to be revised by March at the earliest.