Icheon City to Implement Second Phase of Local Currency Consumption Support Fund from September 1

Gyeonggi-do Icheon City will implement the 'Icheon City 2nd Local Currency Consumption Support Fund' starting September 1 as a support measure for small business owners. The local currency consumption support fund provides 25% of the local currency payment amount as a real-time cashback.

Benefits will be given to consumers who pay with the Icheon Sarang Local Currency card during the consumption support fund period, with a cashback payment limit of 50,000 KRW. The consumption support fund does not apply to policy allowances such as the Youth Basic Income.

During the consumption support fund period, an incentive of 10% will be provided. At the time of payment, the card amount used and the incentive used are separated, and only 25% of the card amount used is paid as the consumption support fund. The city explained that by providing real-time payment at the time of purchase, it has a more immediate effect on stimulating consumption.

The city plans to provide the support fund to consumers who pay with the Icheon Sarang Local Currency until the budget of 1.5 billion KRW for the consumption support fund is exhausted. However, the support fund will expire three months after the date of payment.

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