Gyeonggi-do Holds 'Briefing Session' to Select Joint Operator for Local Currency Management

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province will hold an information session to select a joint operating agency for the Gyeonggi local currency.

On the 17th, Gyeonggi Province announced that it will hold an 'Information Provision (RFI) Briefing Session' for the selection of a joint operating agency for the Gyeonggi local currency at the Suwon Convention Center on the 24th.

The joint operating agency for the Gyeonggi local currency will be responsible for technical tasks such as developing and operating the local currency platform for 28 cities and counties in the province, card application and issuance, and customer service.

The current joint operating agency, Kona I, was selected in 2019, and the contract period will end in January next year.

Through this briefing session, the province plans to provide an opportunity for interested businesses to explain and promote their platform construction and operation technologies, and to convey the field opinions of cities and counties as well as the direction of local currency services desired by residents to the businesses.

In particular, at this event, there will be an exchange of opinions on reducing fees for small business owners (appropriate fee rates) to revitalize the alleyway commercial districts weakened by COVID-19 and to lead the activation of a virtuous cycle economy in the local community.

Additionally, the businesses’ plans regarding securing the stability of operating funds for the Gyeonggi local currency and the return of interest and dormant funds to residents will be heard, and ways to realize these plans will also be discussed.

Financial or electronic finance businesses wishing to participate in the briefing session can apply by mail, email, or visit from the 17th to the 22nd of this month to the Gyeonggi Province Regional Finance Division (3rd floor, Annex Building, Northern Office, Gyeonggi Provincial Government, 1 Cheongsa-ro, Uijeongbu City).

For more details, please refer to the Gyeonggi Provincial Government website.

Meanwhile, the Gyeonggi local currency has been issued starting from 561.2 billion KRW in 2019, and as of October 2021, a total of 3.6539 trillion KRW has been issued.

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