Yongin City to Crack Down on Illegal Distribution of 'Yongin Y- Pay' Until the 25th

Yongin City will conduct crackdowns on the fraudulent distribution of Yongin Y- Pay until the 25th.

[Asia Economy (Yongin) = Reporter Lee Young-gyu] Yongin City in Gyeonggi Province will conduct a comprehensive crackdown on the illegal distribution of 'Yongin Y-Point' until the 25th.

The main items under inspection include ▲receiving or exchanging local currency without selling goods or providing services (commonly known as 'Kkang') ▲using local currency in restricted business sectors ▲refusing payment despite being a Yongin Y-Point affiliated store ▲treating Yongin Y-Point less favorably than other payment methods such as cards or cash.

Yongin City has formed an inspection team of eight members, including responsible public officials and Yongin Y-Point affiliated store management personnel, for this crackdown.

The city plans to impose administrative measures such as canceling the registration of Yongin Y-Point affiliated stores and imposing fines on stores found to be illegally distributing the currency as a result of the inspection.

A city official emphasized, "We are carefully monitoring payment amounts and time periods to ensure that Yongin Y-Point, which aims to revitalize the local economy and neighborhood markets, is not abused. We will do our best to establish a sound local currency distribution order through continuous crackdowns and monitoring."

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