Suwon City to Issue 270 Billion Won in 'Local Currency' This Year

Suwon City held the Suwon Local Currency Operation Council on the 12th and approved the operational scale of Suwon Pay for this year.

The city of Suwon in Gyeonggi Province will issue 270 billion KRW worth of 'Suwon Pay' (local currency) this year.

On the 12th, Suwon held the '2024 Suwon City Local Currency Operation Council' at the city hall situation room, where it reviewed and approved the issuance and operation plan for Suwon Pay this year.

The issuance target for this year is a total of 270 billion KRW, including 240 billion KRW for general issuance and 30 billion KRW for policy issuance such as youth basic income and postpartum care expenses. If national budget support is provided in the future, the issuance target will be raised to 320 billion KRW.

The monthly recharge limit for Suwon Pay this year is 300,000 KRW, with a 6% incentive.

If you recharge 300,000 KRW, you will receive an incentive of 18,000 KRW. During the Lunar New Year and Chuseok holidays in February and September, the incentive will be increased to 10%.

Suwon City will strengthen promotions for registering Suwon Pay affiliated stores this year to expand the number of affiliated stores and will promote registration for newly licensed businesses. Additionally, during the 'Saewit Sale Festa, Suwon' event period, a 'Suwon Pay Consumption Promotion Support Fund Event' will be held.

Meanwhile, last year, Suwon Pay exceeded its issuance target of 300 billion KRW by achieving an actual issuance amount of 327.7 billion KRW, reaching 109% of the goal. Incentives totaling 19.8 billion KRW were disbursed.

On this day, Suwon City formed the 'Suwon City Local Currency Operation Council' to revitalize the operation of Suwon Pay and appointed council members at the meeting.

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