Buyeo County Doubles Goodtrae Pay Limit and Raises Incentives to 20%

Support for Stabilizing Residents' Livelihoods and Helping Small Businesses Recover After Heavy Rain Damage

Buyeo County in South Chungcheong Province is significantly increasing the benefits of its local currency, "Goodtrae Pay," to ease the cost-of-living burden for residents and revitalize the stagnant local economy. The monthly purchase limit has been raised from 1 million won to 2 million won, and incentives of up to 20% are now being offered.

On September 3, the county announced that, starting from the 1st of this month, it has doubled the monthly purchase limit for Goodtrae Pay and is providing a 10% incentive each for charging and spending, supporting up to a maximum of 20%. However, once the allocated budget is exhausted, the discount rate will be adjusted to 15%.

This measure is intended to support the stabilization of livelihoods for residents affected by heavy rain in the county, which has been designated as a special disaster area, and to help small business owners recover their operations.

It is especially expected to maximize the effect of boosting domestic demand during periods of concentrated spending, such as festivals and holidays.

In the first half of this year, the county also secured its own funds without government support to stably operate Goodtrae Pay, and has proactively responded by swiftly amending ordinances and securing national funds in line with government policies.

A county official stated, "Stabilizing residents' livelihoods and restoring the local economy are the most important priorities at this time," adding, "We will continue to do our utmost to stimulate consumption and revitalize the local economy through the effective implementation of policies."

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