Suwon City Cracks Down on Illegal Distribution of Local Currency 'Suwon Pay'

The city of Suwon in Gyeonggi Province is cracking down on the fraudulent circulation of the local currency 'Suwon Pay.'

On the 23rd, Suwon City announced that it will conduct a comprehensive crackdown by September 1 on suspected merchants involved in fraudulent circulation of Suwon Pay, including ▲businesses operating in industries restricted from registering as local currency affiliates ▲affiliates that refuse local currency payments or demand additional amounts ▲businesses that receive local currency without selling goods or providing services ▲and other businesses deemed necessary for inspection.

Suwon City will analyze suspected merchants involved in fraudulent circulation using resident reports and an abnormal transaction detection system, then proceed with on-site inspections based on the analysis data.

During this crackdown, Suwon City will provide on-site guidance for minor negligence, but businesses found to have fraudulently circulated Suwon Pay or violated compliance requirements will face administrative actions such as cancellation of affiliate registration and fines.

A Suwon City official stated, "We will establish order to ensure that Suwon Pay, which is loved by many citizens, circulates healthily."

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