Hwaseong-si Conducts Comprehensive Crackdown on Illegal Circulation of Local Currency

Until the 31st for Local Currency Affiliate Stores

Hwaseong City in Gyeonggi Province announced on the 13th that it will conduct a comprehensive crackdown on the fraudulent circulation of local currency until the 31st.

The main inspection points in this crackdown targeting local currency affiliated stores in the area are ▲ the act of receiving or exchanging gift certificates without selling goods or providing services, known as 'Kkang' ▲ refusing local currency payments or treating them less favorably compared to other payment methods ▲ performing affiliated store operations without registering as an affiliated store, among others.

The city will focus its crackdown on affiliated stores suspected of fraudulent circulation extracted through the 'Abnormal Transaction Detection System' and those reported through the Fraudulent Circulation Reporting Center.

When fraudulent circulation is detected, a fine of up to 20 million won will be imposed, along with cancellation of affiliated store registration and judicial measures. If fraudulent circulation of local currency is suspected, it can be reported to the 'Fraudulent Circulation Reporting Center.'

Jung Myung-geun, Mayor of Hwaseong, said, "We will make every effort to ensure that no one gains unfair profits through local currency," adding, "We hope that good consumption, where citizens and small business owners coexist through the proper use of local currency, will continue healthily."

Meanwhile, the Hwaseong local currency, 'Hope Hwaseong Local Currency,' can be registered as an affiliated store if the small business has annual sales of 1 billion won or less. Affiliated store registration can be applied for on the Gyeonggi Market and Commercial Promotion Agency website.

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