75% of Gyeonggi Residents Say Local Currency Helps Economic Revitalization

[Asia Economy (Suwon) = Reporter Lee Young-gyu] It was found that 75% of Gyeonggi Province residents believe that the 'Gyeonggi Local Currency' helps revitalize the local economy. Additionally, among those who have not yet used the Gyeonggi Local Currency, 63% stated that they plan to use it in the future.

Gyeonggi Province announced on the 22nd that, according to a survey conducted on the 19th targeting 1,000 residents aged 18 and older, 75% of respondents answered that the Gyeonggi Local Currency helps activate the local economy by increasing sales for small business owners and self-employed individuals and inducing related production. This figure is 12 percentage points higher than the result from the survey conducted in November last year (63%).

In particular, among respondents who have experience using the Gyeonggi Local Currency, 84% answered that it is helpful, indicating that residents with usage experience evaluate the local currency’s effect on revitalizing the local economy more positively.

Regarding awareness of the Gyeonggi Local Currency, 83% of respondents answered that they are aware of it.

Sixty-five percent of respondents stated that they have experience using it. This is more than three times higher compared to 19% in the November survey last year.

Furthermore, among respondents who said they are currently using the Gyeonggi Local Currency, 85% answered that they will continue to use it in the future.

Also, among non-users, 63% expressed an intention to use it, indicating that the Gyeonggi Local Currency is likely to expand further going forward.

Kim Jae-yong, Chief of Policy and Pledges for the province, said, "This survey result clearly shows that residents on the front lines of the livelihood economy truly feel the effectiveness of the Gyeonggi Local Currency." He added, "With Chuseok approaching, since residents can receive up to a 25% benefit including the consumption support funds provided by Gyeonggi Province, we hope many residents actively use the Gyeonggi Local Currency to enjoy these benefits and also support small business owners and self-employed individuals who are suffering severe difficulties due to COVID-19."

Meanwhile, as of the end of last month, 1.5846 trillion KRW worth of Gyeonggi Local Currency has been issued. This is twice the issuance target of 800 billion KRW set at the beginning of this year. The issuance scale last year was 561.2 billion KRW.

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