Daejeon City Secures Additional National Funding for Ontong Daejeon Publication... Cashback Continues Until Year-End

Image of Daejeon local currency Ontong Daejeon card. Provided by Daejeon City.

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Daejeon City announced on the 19th that it has secured an additional 23.6 billion KRW in national funds under the name of issuing the local currency Ontong Daejeon.

Including this, the total national funds secured by the city this year for the Ontong Daejeon issuance support project amount to 96.8 billion KRW. This is the second largest amount among metropolitan local governments nationwide, and the city expects that, based on securing additional resources, it will be possible to issue more than 2 trillion KRW worth of Ontong Daejeon within the year.

As of last month, Ontong Daejeon recorded an issuance amount of 1.0324 trillion KRW, exceeding the initial plan by 50%.

Accordingly, to ensure the stable issuance of Ontong Daejeon, the city adjusted the monthly issuance scale of the local currency by reducing the purchase limit from 1 million KRW to 500,000 KRW in March.

Additionally, the city made several visits to the Ministry of the Interior and Safety to appeal for the need to increase national funds based on the issuance performance and trends of Ontong Daejeon, achieving visible results in securing additional national funds.

The city views these achievements as reflecting the effect of Ontong Daejeon quickly establishing itself as the central axis of the Daejeon regional economy in the shortest period since its launch, thereby driving regional economic revitalization.

Ko Hyun-deok, Director of the City’s Job and Economy Bureau, said, “Through securing additional national funds, the city has established a stable foundation to issue Ontong Daejeon worth 2 trillion KRW by the end of the year. Building on this momentum, in the second half of the year, we will implement field-oriented policies that address consumption disparities by region and class and alleviate the management burden on small business owners, so that Ontong Daejeon can fully establish itself as a regional economic brand.”

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