"Emergency Disaster Relief Funds Sold Cheaply" Resale Thrives on Secondhand Sites

[Source - Capture from Bungaejangter]

[Asia Economy Reporter Shinwon Yoon] There is controversy as emergency disaster relief funds provided to citizens struggling due to the novel coronavirus infection (COVID-19) are being traded on secondhand transaction sites, contrary to their intended purpose.

Recently, posts selling various emergency disaster relief fund vouchers issued by local governments in the form of local currency have appeared on secondhand transaction sites. 'Seoul Love Gift Certificates (Seoul City local currency)' and 'Livelihood Support Prepaid Cards (Daegu City support funds)' are being traded at prices lower than their face value, effectively being 'cashed out.'

In fact, buying and selling local currency received as disaster basic income or similar is illegal under the Electronic Financial Transactions Act.

Jungonara, the largest secondhand goods trading platform in Korea, announced a temporary policy to operate a cafe banning the trade of vouchers issued by local governments, but transactions through some secondhand trading apps and various local online communities and SNS are rampant.

Accordingly, each local government has stated that they will track both the posters and related parties involved in discounted local currency transactions and recover the support funds. A Seoul City official said, "According to Seoul City ordinances, Seoul Love Gift Certificates cannot be resold for cash under any circumstances," and added, "If voucher cash transactions are detected, we will immediately suspend voucher transactions and recover the full amount of the vouchers."

Gyeonggi Province Governor Lee Jae-myung also warned on his Facebook, "If anyone attempts to discount trade local currency in any form, we will immediately track the posters and related parties to the end, punish all involved, and recover the full amount."

This content was produced with the assistance of AI translation services.