By registering paper lottery tickets in the Payco app, users will receive regular notifications about their winnings, and unclaimed prizes will be automatically deposited on the payment deadline.
The Ministry of Economy and Finance's Lottery Commission held its 191st meeting on August 11, where it approved amendments to guidelines regarding the issuance, management, and sale of lotteries.
The automatic payment system for unclaimed winnings will begin operating on August 18. Users who pre-register their paper lottery tickets in the Payco app will receive regular updates on their winning status, and any unclaimed prizes by the deadline will be automatically credited to their accounts.
Currently, it is difficult to verify the identity of purchasers of physical lottery tickets, unlike online purchases. If winners do not claim their prizes within one year from the start of the payment period, the winnings will revert to the lottery fund.
Last year, unclaimed lottery winnings totaled 58.1 billion won, primarily from the fourth prize of 50,000 won and the fifth prize of 5,000 won, which require winners to check their status directly.
The Lottery Commission also plans to provide real-time operational information for 9,530 lottery retailers through Naver Maps and Kakao Maps, allowing users to confirm both the location and operational status of retailers to enhance purchasing convenience.
A pilot program for exchange vouchers for annuity lotteries, which companies can use as prizes in promotional events, will also be introduced. These vouchers will be limited to amounts under 5,000 won and will have additional restrictions to prevent use by minors.
To increase retailer sales and raise awareness of the lottery fund, the commission will promote local lottery fund projects through banners, lottery envelopes, and QR code displays at retailers.
Last year, lottery sales reached 7.66 trillion won, nearly 7.8 times the 980 billion won recorded when the Lotto was first launched in 2002. During the same period, the number of lottery retailers increased from 5,197 to 9,530.
Jo Yong-beom, Vice Minister of Planning, stated, “This reform aims to protect the rights of lottery purchasers while contributing to increased sales for retailers, which are primarily composed of vulnerable groups, thereby enhancing public trust in the lottery system.”
Meanwhile, the Lottery Commission is holding a drawing contest themed “How the Lottery Fund Has Changed Our Neighborhood.” Any citizen aged 19 and older can participate, with submissions accepted until the 11th of next month. Outstanding works will be featured on lottery tickets and promotional materials for the Spitto and annuity lotteries.
* This article has been translated by AI.
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