[Asia Economy (Suwon) = Reporter Lee Young-gyu] Suwon City in Gyeonggi Province will conduct a comprehensive crackdown on suspected fraudulent merchants of the Suwon local currency 'Suwon Pay' from the 31st of this month to the 25th of next month.
The targets of the crackdown are ▲ businesses registered as merchants despite being restricted from registering for local currency ▲ merchants who refuse Suwon Pay payments or treat them less favorably compared to other payment methods ▲ businesses that receive gift certificates without selling goods or providing services.
The city will analyze suspected fraudulent merchants based on Suwon Pay payment data by merchant and reports from residents, then form an inspection team of seven public officials, including the head of Suwon City's Local Economy Division, to conduct on-site inspections.
The city will provide on-site guidance for minor negligence, but businesses that have fraudulently circulated Suwon Pay or violated compliance requirements will face administrative actions such as merchant registration cancellation and fines.
A city official said, "We will establish order to ensure Suwon Pay circulates soundly and revitalize small business owners and the neighborhood economy," and urged, "If you witness any fraudulent circulation or unfair treatment of the local currency, please report it to the Local Economy Division of Suwon City Hall."
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