One Week After Launch of Daejeon Local Currency, 55,000 Subscribers and 6.2 Billion KRW Issued 'Popular'

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Daejeon City announced on the 24th that its local currency 'Ontong Daejeon' surpassed 55,000 subscribers and 6.2 billion KRW in issuance amount within one week of its launch.

According to the city, Ontong Daejeon had 13,000 new subscribers on the launch day, the 14th, and since then, the number of new subscribers has increased by an average of 8,000 per day. The average daily recharge amount is 1.6 billion KRW.

The city views Ontong Daejeon's initial performance as successful, considering that Dongbaekjeon, a local currency launched in Busan at the end of last year, exceeded 10,000 subscribers and 950 million KRW in recharge amount within 9 days.

Building on this momentum, the city plans to continue Ontong Daejeon's popularity by improving convenience features such as enhancing the merchant search function in the Ontong Daejeon app, and by fully introducing additional functions on the Ontong Daejeon platform in July, including discounted merchants, linked discounts, cashback donations, recharge amount gifting, traditional market and cultural ticket mall services.

Kwon Oh-bong, head of the Small Business Division of the city, said, "The launch commemorative cashback event (up to 15%), increased monthly purchase limit per person (up to 1 million KRW), issuance of two types of cards including check and prepaid cards, and integration with Samsung and LG Pay have been analyzed to have had a significant positive impact on the success of the local currency." He added, "We ask all citizens to become ambassadors of Ontong Daejeon and participate in good consumption that revitalizes the local economy."

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