‘Ontong Daejeon Success’ This Year’s Issuance Exceeds 1 Trillion Won... Forecast of 2 Trillion Won by Year-End

Provided by Daejeon City

[Asia Economy (Daejeon) Reporter Jeong Il-woong] The local currency of Daejeon, ‘Ontong Daejeon,’ has succeeded in gaining popularity, surpassing a cumulative issuance amount of 1 trillion won this year.

According to Daejeon City on the 4th, as of the end of last month (January to July), the total issuance amount of Ontong Daejeon is recorded at 1.0324 trillion won.

Since the beginning of this year, the issuance amount of Ontong Daejeon has exceeded the initial plan by more than 50%, with about 1,000 new members joining daily, gaining significant popularity.

In particular, during the Ontong Sale period in May, a record of 200 billion won was issued over two weeks.

Currently, in Daejeon, 7 out of 10 citizens aged 14 and older hold Ontong Daejeon, making it a successful representative livelihood economy brand of Daejeon. As of the end of last month, the cumulative number of Ontong Daejeon subscribers reached about 650,000, with around 800 new members joining daily on a steady basis.

The city initially planned to issue Ontong Daejeon worth 1.3 trillion won this year, but considering the current issuance trend, it is expected that issuance of 2 trillion won by the end of the year is also possible.

Accordingly, the city plans to secure funds needed for additional demand through national and city budgets to ensure stable issuance of Ontong Daejeon until the end of the year, while also managing supply and demand.

In addition, in response to changes in non-face-to-face consumption, the city will activate the Ontong Daejeon Mall and delivery platforms and conduct the Ontong Sale in the second half of the year to focus on recovering the stagnant local economy.

Ko Hyun-deok, Director of the City’s Job and Economy Bureau, said, “Ontong Daejeon has become an essential item in the lives of Daejeon citizens beyond the simple function of local currency,” adding, “The city will continue to discover policy enhancement projects linked to Ontong Daejeon so that it can serve as a win-win platform for the local economy.”

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