K Bank said it will accept first-round applications for "high oil price relief payments" in its app starting April 27.

The payments are a government support policy designed to ease household burdens caused by rising international oil prices and mounting price pressures.

The payments will be provided on a sliding scale from 100,000 won to a maximum of 600,000 won per person depending on income level and area of residence. Priority will be given to vulnerable groups such as basic livelihood recipients, near-poverty households and single-parent families. Applications will then be expanded to the bottom 70 percent of income earners from May 18.

Applications can be made through menus such as "Receive government support payments" in the K Bank app. The bank simplified the process so applicants can check eligibility and the payment amount and apply without entering additional information.

Once an application is completed, the payment will be loaded onto a check card in sequence and can be used for card purchases after a text message notice. Spending history and remaining balance can be checked in the app. The check card’s basic benefits will remain in place when the payment is used.

A K Bank official said that during last year’s consumer coupons for restoring livelihoods, customer use increased sharply, with applications surging to more than three times the usual level due to fast advance guidance and a simplified application process. The official said K Bank will support customers so they can apply conveniently and quickly feel the benefits from the high oil price relief payments.