NH Nonghyup Also Launches Dongbaekjeon, Easy Issuance in Rural Areas

Busan Local Currency Dongbaekjeon Card Issuance Available at NongHyup Bank Starting from the 28th

Dongbaekjeon card issued by NongHyup Bank.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Busan local currency ‘Dongbaekjeon’ will be issued on-site and online through NH Nonghyup Card starting from the 28th.

At the time of its launch, Dongbaekjeon could only be issued on-site at Hana Bank besides the Dongbaekjeon app, but accessibility and convenience for citizens were improved through the launch of Busan Bank BC Card last May.

This NH Nonghyup Bank Dongbaekjeon card launch is expected to make it easier for elderly and other mobile-vulnerable groups in rural areas to obtain the card, thereby expanding Dongbaekjeon enrollment among the elderly.

Busan City ended the 10% cashback event with a monthly limit of 1 million KRW in April to revitalize the local economy affected by COVID-19, and from May to June, it implemented a 6% cashback with a monthly limit of 500,000 KRW. Starting in July, it is applying 10% cashback for cumulative amounts up to 100,000 KRW and 5% for cumulative amounts between 100,000 and 500,000 KRW.

The city is conducting events for new subscribers and long-term inactive users through each card company, expanding merchant-specific benefits such as 1+1 promotions on certain items at GS convenience stores, and plans to provide various services including the introduction of tourism gift certificates.

Lee Yoon-jae, Busan City’s Public Livelihood and Labor Policy Officer, said, “With the launch of the Nonghyup Card, we expect Dongbaekjeon to become a card that all age groups can easily use.”