Gwanak-gu and Woori Bank Sign Agreement to Support Smart Financial Payments in Traditional Markets

Gwanak-gu Traditional Markets Receive Full Support for Replacing 23 Card Payment Terminals, Building Smart Financial Payment Infrastructure to Greatly Enhance Customer Convenience... Merchants Also Sign 'Janggeum (場金) Connection' Agreement to Prevent Telecom Financial Fraud

In Gwanak-gu (District Mayor Park Jun-hee), smart and convenient shopping is now possible even in traditional markets.

On the 21st, Gwanak-gu signed a business agreement with the traditional market merchants' association and Woori Bank to support win-win management and mutual growth through the 'Gwanak-gu Traditional Market Smart Financial Payment Support' and began building smart payment infrastructure.

The Gwanak-gu Traditional Market Smart Financial Payment Support aims to improve information and communication technology (ICT) infrastructure so that residents can use traditional markets more conveniently through smart payments, based on mutual cooperation between the traditional market merchants' association and Woori Bank.

From the time of the agreement, the Woori Bank Gwanak-Dongjak Business Headquarters branch will directly visit 23 traditional markets with over 1,600 stores in the district to provide free replacement of new card payment terminals and will also support the maintenance and management costs of the terminals free of charge.

However, the following conditions must be met: ▲the merchant payment account must be used or changed to a Woori Bank business account and maintained for two years ▲merchant payment deposits must be made at least once a month into the Woori Bank merchant payment account ▲small business owners must have annual sales of 300 million KRW or less in the previous year.

The district expects that the convenience for market customers will be greatly enhanced through diversified payment methods such as mobile payments and credit card payments within traditional markets, and that the competitiveness of traditional markets will be strengthened by creating a convenient and stable financial service environment.

Furthermore, Gwanak-gu and Woori Bank have formed a 'Janggeum (場金) Partnership' to fully prevent telecommunication financial fraud damage to small business owners in traditional markets and to resolve financial difficulties.

Through the 'Janggeum (場: market, 金: financial institution) Partnership,' support will be provided such as ▲establishing dedicated counters for small business owners in traditional markets ▲conducting 'financial fraud damage prevention education' including methods of financial fraud and response guidelines ▲operating a hotline to promptly report voice phishing damage to the Financial Supervisory Service for relief.

Meanwhile, the district has recently established the '2024 Traditional Market Revitalization Promotion Plan' to strengthen the competitiveness of traditional markets amid the growth of large-scale distribution companies and online consumer platforms, promoting ▲business modernization projects ▲facility modernization projects ▲and the Byeolbit Sinsari commercial district renaissance project.

In particular, this year, support such as education to strengthen the capabilities of traditional market merchant organizations in the region has newly started, and plans to discover and expand support for new alley-type shopping districts.

District Mayor Park Jun-hee said, “For traditional markets to regain vitality, it is important to keep pace with consumer trends, and I am grateful to Woori Bank for their generous support for small business owners in Gwanak-gu traditional markets,” adding, “I hope that through the establishment of a smart payment environment and prevention of financial fraud, the small business owners in the depressed traditional markets will regain their smiles.”

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