Daejeon City Expands Additional Cashback Shopping Districts for Ontong Daejeon

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Daejeon City is increasing the number of stores eligible for additional cashback with Ontong Daejeon.

Starting from the 17th, the city announced that when using the local currency Ontong Daejeon at traditional markets and shopping districts, a basic cashback of 10% plus an additional cashback of 3% will be provided.

The additional cashback will be given when purchasing products with Ontong Daejeon at about 3,300 stores across 47 traditional market locations.

Previously, the city began an additional cashback program targeting about 2,000 traditional market stores in September last year, providing approximately 500 million KRW in additional cashback over four months.

This year, the support budget has been increased to 2 billion KRW, allowing additional cashback to be received at stores within traditional markets and nearby shopping districts. The aim is to increase consumption in areas with significant consumption disparities, such as the old downtown centered around traditional markets.

The additional cashback support will be implemented until the end of the year within the 2 billion KRW budget. Eligible stores are limited to those that have expressed their intention to participate after a prior demand survey and are registered as shopping districts or alley-type shopping districts.

Im Muk, Director of the City’s Job and Economy Bureau, said, “Last year, the additional cashback was limited to traditional markets, but this year the scope includes shopping districts near the markets. Through this, the city expects to alleviate regional consumption imbalances and support balanced growth between the old and new downtown areas, thereby reducing consumption disparities by region.”