Goyang City, First Nationwide to Use 'Development Charge Points → Local Currency'... Ordinance Enacted

Goyang City Local Currency 'Goyang Pay' [Provided by Goyang City]

[Asia Economy Reporter Ra Young-cheol] In Goyang City, Gyeonggi Province, points received by paying development charges can be converted into local currency and used.

On the 6th, the city announced, "We are the first local government in the country to enact, promulgate, and implement the 'Ordinance on Issuance and Operation of Local Currency Points for Faithful Payment of Development Charges."

This ordinance aims to provide practical benefits to faithful payers by awarding points to those who pay development charges diligently, allowing them to donate accumulated points or convert them into local currency to use like cash.

The city plans to operate this points system separately from the existing 'Early Payment Refund System for Development Charges' to encourage faithful payment and reduce delinquency rates.

Since development charge points can be converted into Goyang City local currency and used only within the city, it is expected to benefit local small business owners who are struggling due to COVID-19.

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