Kona I Reselected as Preferred Negotiation Partner for Cheongju City's Local Currency 'Cheongju Pay'

[Asia Economy Reporter Yoo Hyun-seok] Kona I announced on the 5th that it has been reselected as the preferred negotiation candidate in the bid to operate the card-type Cheongju Love Gift Certificate 'Cheongju Pay' managed by Cheongju City.

Cheongju Pay is a rechargeable prepaid card-type local currency issued by Cheongju City to prevent the outflow of local funds and promote consumption. It has recorded a cumulative issuance amount of 550 billion KRW, achieving the best performance nationwide among basic local governments in terms of issuance amount and number of members.

Kona I has been in charge of operating the Cheongju Pay platform since December 2019. Through this re-selection, it will continue to operate the platform and user app until December 31, 2024.

During this project period, the company plans to focus on providing specialized card services with differentiated designs and offering various community services based on the local currency platform to members. In addition, promotional and marketing tools such as special discount merchants and coupon services aimed at increasing the income of small business owners in Cheongju City will also be actively supported.

Jung-il Cho, CEO of Kona I, said, "This selection as the preferred negotiation candidate is especially meaningful because Kona I has been recognized for its stable operation of the Cheongju Pay platform over the past two years, contributing to the successful establishment of Cheongju Pay in the local economy and for its platform technology." He added, "We will do our best to revitalize the use of Cheongju Pay by leveraging the excellent scalability of the platform to introduce various additional services such as public delivery, local shopping malls, and donation services to the Cheongju Pay platform."

Meanwhile, Kona I was the first in Korea to introduce a self-developed card-type local currency platform and operates local currency platforms for 60 local governments nationwide, including Cheongju City.