Sejong City Cracks Down on Illegal Distribution of Local Currency 'Yeominjeon'

[Asia Economy (Sejong) Reporter Jeong Il-woong] Sejong City is taking measures to prevent the illegal circulation of the local currency Yeominjeon.

The city announced on the 14th that it will conduct intensive crackdowns on illegal circulation of Yeominjeon from the 16th to the 31st of this month.

The targets of the crackdown include conducting franchise operations without registering as a franchise store, operating businesses in industries restricted from franchise registration, refusing payment with gift certificates, or treating gift certificate holders unfairly.

The city plans to carry out the crackdown by first conducting preliminary analysis based on data such as franchise store information from card companies and online/offline resident reports, and then conducting on-site inspections if suspicious transactions are found.

If illegal circulation is detected during this process, penalties such as cancellation of franchise registration, prohibition from entering franchise stores for a certain period, administrative sanctions, or fines up to 20 million KRW will be imposed.

In particular, the city explained that if the violation is illegal depending on the case, it will refer the matter to investigative agencies for further investigation.

Meanwhile, the city aims to issue Yeominjeon worth 276 billion KRW this year.

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