Chuncheon City, Nationwide First Electronic Currency 'Soyang Energy Pay' First Distribution

2 Billion KRW for a Total of 3,612 Households

Archive photo [Asia Economy DB]

[Asia Economy Reporter La Young-chul] Chuncheon City in Gangwon Province will make the first payment of the energy electronic currency 'Soyang Energy Pay,' which was introduced nationwide for the first time, on the 29th.

Chuncheon City announced on the 22nd, "The payment will be made to a total of 3,612 households amounting to 200 million won, and the funds will be sourced from the electricity sales revenue of four solar power plants operated by the city."

Soyang Energy Pay is an incentive provided to citizens who have installed and used self-consumption type power generation facilities utilizing renewable energy sources, contributing to greenhouse gas reduction and energy saving.

By type, there are 2,624 households that installed with full self-payment, 177 households under the housing support distribution project, 420 households under the convergence support distribution project, and 391 households under the mini solar power distribution project.

These citizens have installed and operated residential self-consumption type renewable energy power generation facilities, undergone pre-use inspection by the Korea Electrical Safety Corporation, and signed net metering agreements with Korea Electric Power Corporation.

Since it is within 30 days from the issuance date of the user designation certificate, Soyang Energy Pay will be first paid to 217 households on the 29th. Thereafter, it will be paid once a year every March for four years, and the validity period is two years from the payment date.

Soyang Energy Pay payments will be made through the energy currency platform to the user's mobile dedicated app. Users can visit Soyang Energy Pay affiliated stores to purchase goods and make scan payments via the mobile dedicated app.

The number of Soyang Energy Pay affiliated stores will start recruiting about 600 stores by the end of January and plans to expand up to 2,000 stores.

Additionally, the city plans to expand the payment recipients from residential self-consumption type renewable energy power generation facilities to residential renewable energy heat source facilities.

A city official said, "Through Soyang Energy Pay, the spread of renewable energy distribution and the realization of a sustainable energy self-reliant city can be accelerated."

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