Card companies will distribute 387-point-five billion won in government cashback on credit and debit card spending in the month of October beginning on Monday. 

According to the Ministry of Economy and Finance, eight-point-one million people are eligible for the program, with an average 48-thousand won expected to be handed out to each user. One-point-69 million people are projected to receive the maximum 100-thousand won.

The cashback credit, which will remain valid through next June, can be spent immediately. The funds will be automatically deducted during payment. 

Meanwhile, incentives for November stood at 51 billion won as of last Friday, which will be given out on December 15.

Under the program, the government is providing a monthly ten percent credit for excess spending of over three percent compared to the user's monthly average spending in the second quarter.

For example, if a card user spent an average one million won a month in the second quarter, then spent one-point-53 million won in October, they would receive 50-thousand won in cash points.