'Ontong Daejeon' Cashback Paid Until 19th... Resumption on January 1 Next Year

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Daejeon City will end the cashback event for the local currency Ontong Daejeon as of the 19th of this month. Cashback payments will resume from January 1st next year.

According to the city on the 17th, a total of 900 billion KRW worth of Ontong Daejeon has been issued over seven months from May to this month. Accordingly, the city expects that the budget related to cashback will be fully exhausted by the 19th.

Therefore, from the 20th, even if Ontong Daejeon is used, cashback benefits will no longer be available; instead, only charging and usage will be possible, the city explained.

The cashback payment will resume from January 1st next year, and from that day, Ontong Daejeon can be charged up to 1 million KRW per month. The cashback received at that time (10% of the usage amount) can be used anytime throughout the year.

The city plans to increase the issuance amount of Ontong Daejeon from 900 billion KRW this year to 1.3 trillion KRW next year. Additionally, it intends to strengthen support for non-face-to-face sales in the local commercial sector by utilizing Ontong Daejeon.

Ko Hyun-deok, Director of the Job and Economy Bureau of the city, said, “Ontong Daejeon exceeded the initial issuance target of 500 billion KRW this year, with a total issuance of 900 billion KRW,” and added, “From next year, the city plans to strengthen support for vulnerable users so that all Daejeon citizens can enjoy the benefits of Ontong Daejeon, and expand its function as a win-win economic platform for citizens and small business owners.”

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