Kona I, Re-selected as the Preferred Negotiation Candidate for 'Gyeonggi Local Currency Joint Operation Agency'

[Asia Economy Reporter Yoo Hyun-seok] Kona I announced on the 11th that the Kona I consortium was reselected as the preferred negotiator in the bid for the 'Gyeonggi Local Currency (Card Type) Joint Operation Agency' announced in December last year. Kona I participated in the bid by forming a consortium with Bizplay. If the formal contract is signed with this re-selection, it will continue to operate as the joint operation agency for Gyeonggi local currency for the next three years.

Gyeonggi local currency, which began issuance in 2019, exceeded 40 trillion KRW in issuance in 2021 and has played a key role in revitalizing local neighborhood markets and increasing sales for small business owners. By restricting usage to traditional markets and small business owners with less than 1 billion KRW in sales, and by paying various policy allowances such as youth basic income in local currency, it contributed to shifting local residents' consumption habits from large stores to small business stores. It was recognized for its effect on revitalizing the local economy, winning the grand prize, the Presidential Award, in the 'Local Love Gift Certificate Performance and Best Practice Evaluation' conducted by the Ministry of the Interior and Safety in December last year.

In this bid conducted to ensure fair and transparent operation of Gyeonggi local currency, evaluations were made on the stable management of local currency operating funds and accident prevention capabilities, systematic mobile app development and operation, and complaint response capabilities. Additionally, considering the COVID-19 situation and the local currency operation goals of revitalizing neighborhood markets, support for small business owners and social contribution were also included.

Kona I is expected to have received high evaluations for having stably operated the card-type local currency platform for 28 cities and counties in Gyeonggi Province for three years since 2019, and for possessing various platform service technologies that can support the sustainable growth of local currency.

A company official said, "Among the large number of consortia from large corporations and major financial holding companies participating in this bid, Kona I was selected as the preferred negotiator for Gyeonggi local currency by gaining superiority in operational capability and technological skills. Despite being a company that has focused solely on developing the local currency platform for four years, enduring deficits, with its own technology accumulated over 23 years to contribute to local economic revitalization, Kona I has gained great strength to clearly resolve all political favoritism suspicions that were misused as a subject of controversy in the recent presidential election phase through this re-selection."

Kona I plans to link various additional services tailored to the characteristics of each local government to the Gyeonggi local currency platform in the future and make further efforts to improve the platform's operational efficiency and user convenience. It also plans to expand projects supporting small business owners and local economic revitalization and to continuously carry out community contribution activities to strengthen its social responsibility as a local currency operation agency.

Jung Il Jo, CEO of Kona I, said, "I am pleased that Kona I's efforts and technological capabilities, which have led the activation of local currency by developing the nation's first card-type local currency platform, have been recognized once again through this re-selection. We will do our best to operate the Gyeonggi local currency platform more stably and develop it into a local community platform that drives neighborhood market revitalization and regional coexistence."