Gangdong-gu Issues Card-Type Local Currency 'Gangdong Bitsal Money'

Seoul's First Autonomous District Issues Card-Type Local Currency on the 30th... Rechargeable Prepaid Card Usable by Those Having Difficulty Using Mobile Phones

[Asia Economy Reporter Jongil Park] Gangdong-gu (District Mayor Lee Jeong-hoon) will start issuing and selling the card-type local currency "Gangdong Bitsal Money," the first of its kind among Seoul's autonomous districts, from 9 a.m. on the 30th to promote local consumption and increase sales for small business owners.

Gangdong Bitsal Money is a rechargeable prepaid card-type local currency that can be used at any card-accepting business within Gangdong-gu (excluding certain industries such as entertainment establishments).

The district decided to issue the card-type local currency "Gangdong Bitsal Money," the first among Seoul's autonomous districts, to revitalize the local economy affected by the recent spread of COVID-19 and to support small business owners facing difficulties due to changes in consumption patterns and rising rents.

This year, the issuance scale of Gangdong Bitsal Money is 3 billion KRW, and individuals can purchase up to 700,000 KRW per month at a 7% discounted rate.

Residents can purchase it by visiting a local Saemaeul Geumgo branch, filling out a membership application, or by downloading and installing the "Gae Seoul" app on a smartphone registered in their name. However, when applying for the card through the Gae Seoul app, the card must be delivered to the address within 7 days before it can be used.

If using the app is difficult, residents can visit a local Saemaeul Geumgo branch, an offline sales agency, to recharge the card.

Lee Jeong-hoon, Mayor of Gangdong-gu, said, "Following the issuance of the mobile gift certificate 'Gangdong Love Gift Certificate,' we are issuing the rechargeable prepaid card 'Gangdong Bitsal Money' for those who have difficulty using mobile phones, the first among Seoul's autonomous districts. We ask for your active use of Gangdong Bitsal Money, which offers a 7% discount benefit and helps revitalize the local economy." He added, "The district will continue to do its best to support small business owners and revitalize the local economy."

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