'Bucheon Pay' Issuance Surpasses 200 Billion Won... Contributing 20 Billion Won Monthly to Local Economy Revitalization

Gyeonggi-do Public Delivery App 'Baedal Teukgeup' Recruiting Franchise Stores

'Bucheon Pay,' newly launched last July with the Bucheon Hansup character inserted
[Provided by Bucheon-si, Gyeonggi]

[Asia Economy Reporter Park Hyesook] The local currency "Bucheon Pay" issued by Bucheon City, Gyeonggi Province, surpassed 200 billion KRW in issuance as of the 25th.

This achievement was reached about two months after surpassing 168.8 billion KRW in issuance last August, representing a 1.2-fold increase compared to last year and a 1.6-fold increase in card issuance. The actual usage amount reached 195.7 billion KRW, with approximately 20 billion KRW issued monthly, contributing to the revitalization of the local economy.

According to the city, a survey evaluating the promotion of Bucheon Pay and its contribution to local economic revitalization showed that 100% of Bucheon Pay users expressed satisfaction, and 82% of affiliated store owners reported satisfaction with its contribution to increasing sales for small business owners.

In response to the economic downturn caused by the spread of COVID-19 and to boost sales for small business owners, the city plans to maintain a monthly recharge limit of 500,000 KRW and a 10% incentive until December.

Additionally, to increase the usage rate of Bucheon Pay, the city is exploring various avenues and has issued vertical Bucheon Pay cards featuring Bucheon City's mascot character "Bucheon Hansseop" since July, reflecting the diversification of user age groups.

The city is also recruiting affiliated stores for Gyeonggi Province's public delivery app "Baedal Teukgeup." Unlike private delivery apps, Baedal Teukgeup has no advertising fees, charges a 1% commission, and allows online use of the regional currency (Bucheon Pay).

To promote the recruitment of affiliated stores, the city plans to hold a consumer event announcing the launch of Bucheon City's Baedal Teukgeup (participants receive a 5,000 KRW coupon on a first-come, first-served basis) and promote the service for an early opening.

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