Temporary Expansion of Gyeonggi Local Currency Usage to Businesses with Annual Sales of 3 Billion Won or Less

The range of businesses where the Gyeonggi Local Currency can be used will be temporarily expanded.

The Gyeonggi Provincial Government announced on April 22 that, from April 28 to August 31, the use of Gyeonggi Local Currency will be temporarily expanded to small business establishments with annual sales of 3 billion won or less.

This measure aims to increase user convenience for residents during the period in which the high oil price relief funds can be used, as well as to stimulate consumption.

The Gyeonggi Provincial Government made this decision following a review by the Gyeonggi Local Currency Deliberation Committee.

Recipients of the high oil price relief fund can choose to receive it as Gyeonggi Local Currency, a prepaid card, a credit card, or a debit card. The Gyeonggi Provincial Government explained that, since different cities and counties currently apply varying standards to Gyeonggi Local Currency usage—ranging from 1.2 billion won to 3 billion won in annual sales—they decided to temporarily unify the criteria to 3 billion won to reduce confusion among residents.

Gyeonggi Provincial Government

The Gyeonggi Provincial Government will expand the eligible businesses for the use of not only the high oil price relief funds but also the general-issued recharge funds, allowing their use at small business establishments with annual sales of 3 billion won or less. However, according to Ministry of the Interior and Safety guidelines, certain businesses—including online shopping malls, entertainment and gambling businesses, and cashable businesses—where the use of high oil price relief funds is prohibited, will not be included in this expansion of Gyeonggi Local Currency usage.

This expansion will apply to 28 cities and counties in the province, excluding Seongnam, Siheung, and Yangpyeong. However, in Yangpyeong County, the expanded standard will only apply to the high oil price relief funds, with the existing standard maintained for general-issued recharge funds.

Park Noguk, Director of Economic Affairs at the Gyeonggi Provincial Government, said, "This expansion of local currency usage is a practical measure to improve convenience in a way that residents can truly feel," and added, "Going forward, the Gyeonggi Provincial Government will continue to develop policies that benefit both small business owners and residents, and actively promote the recovery of the local economy."

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