Sejong 'Yeominjeon' Issues 178.7 Billion KRW This Year... Cashback Maintained Next Year

[Asia Economy (Sejong) Reporter Jeong Il-woong] Sejong City announced on the 30th that the issuance amount of the local currency Yeominjeon reached 178.7 billion KRW as of the 28th.

The amount of Yeominjeon actually used from the sold currency also reached 161.6 billion KRW (90.4%). Based on this, the city judges that Yeominjeon aligns with the original purpose of issuing local currency, such as preventing the outflow of local funds and revitalizing the local economy.

Yeominjeon was launched in March and has been issued for 10 months. During this period, about 105,000 local adults (40% of the total adult population) registered on the Yeominjeon app.

The city plans to issue 150 billion KRW worth of Yeominjeon next year within the secured budget. This is a reduced issuance scale compared to this year, but the city intends to expand the issuance scale by requesting additional national funds from the Ministry of the Interior and Safety.

Also, the 10% cashback benefit provided to Yeominjeon users this year will be granted in the same way next year.

The monthly purchase limit per person next year will be 1 million KRW, and the total issuance limit for January is planned to be 12.5 billion KRW.

Kim Hoe-san, head of the city's Corporate Support Division, said, “The city will contribute to increasing household disposable income and revitalizing the local economy by providing a 10% cashback benefit through Yeominjeon next year as well.”

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