One Month Since the Opening of 'Seoul Time Bank'... "Possibility of Restoring Networks and Metropolitan Community"

Top Active Members Earn 600 TimePay... 'Learning & Coaching' Demand Highest at 44%
Intergenerational Mentoring at Work, Neighbor and Colleague Help Exchanges Like Water Pipe Repairs for Elderly Living Alone

[Asia Economy Reporter Lim Cheol-young] One month after the launch of the pilot project for the ‘Seoul Time Bank,’ a metropolitan community model designed for the digital transformation era, it has been reported that over 280 people have joined the online cafe. The Seoul Time Bank is a new concept of mutual aid activity where participants earn time currency equivalent to the hours they help their neighbors and can use it when they need assistance. Currently, the pilot project is being promoted in cooperation with various institutions across four regions.

On the 8th, Seoul City announced that 280 people have joined the Seoul Time Bank online cafe, and the number of members participating offline at branch locations without joining the cafe is also increasing. Based on the number of online cafe members, women (66.2%) are about twice as many as male members, and the average age of members is 44, with those in their 40s (32.8%) being the largest group. Members range in age from their 20s to their 70s.

The Seoul Time Bank pilot project is an attempt to apply the concept of a time bank?which holds that “everyone’s time has equal value and everyone has something to contribute to others”?to a metropolitan community model. Although still in its early stages, the most active branch so far is the Seoul City Hall branch, and the member who has accumulated the most time currency is a member of the Kookmin University-Jeongneung branch who participated in the Jeongneung local festival, accumulating 600 time pays.

According to a “Help Giving-Help Receiving Demand Survey” conducted among members of the Seoul City Hall branch, the number of offers to help (132 cases) was about twice the number of requests for help (75 cases), indicating that members have a stronger desire to help their neighbors. The types of help offered included daily life assistance such as using smart devices, simple cooking, bicycle riding, and carrying luggage; introductory courses in health management, languages, and musical instruments; emotional support such as counseling and companionship; and various demands and supplies for help such as hospital accompaniment, walking companionship, exercise coaching, and pet care. There were also members who wanted to share tips on working at foreign companies, those with over 30 years of experience in the financial sector, and members who wanted to tutor youth in math leveraging their teaching experience.

Seoul City plans to focus the Time Bank House branch, opening on the 17th, on care activities for local elderly and disabled people by utilizing the expertise of the nonprofit organization Time Bank Korea. Furthermore, reflecting both domestic and international interest and requests from Seoul citizens, other cities, and public institutions regarding the Seoul Time Bank, the city intends to gradually expand the currently operating pilot project.

Lee Won-mok, Director of the Seoul City Citizen Cooperation Bureau, said, “Through the activities carried out over the past month in the Seoul Time Bank pilot project, we were able to confirm citizens’ voluntary desire to share their time and contribute to their neighbors. We especially have high expectations for its potential to contribute to generational integration and communication between the older generation and the MZ generation in the workplace.” He added, “Although there are some shortcomings in the early stages of the project, we will strive to enable more citizens to participate through continuous improvements in convenience, safety, and reliability.”

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