Yangju City in Gyeonggi Province announced on May 28 that it will raise the incentive payment rate for its local currency, the Yangju Love Card, from the current 6% to 10% for the month of June.
Yangju Love Card. Provided by Yangju City
This adjustment to the incentive rate is intended to support citizens and small business owners who are facing difficulties due to high inflation and an economic downturn.
The incentive will be applied to Yangju Love Card top-ups made between June 1 and June 30, with an additional 10% of the recharge amount provided as a bonus.
A Yangju City official stated, "We hope this measure will stimulate local consumption and revitalize neighborhood businesses," adding, "We will continue to consider expanding the 10% incentive period further in order to ease the financial burden on citizens and support the recovery of small business owners."
Meanwhile, the Yangju Love Card can be used at over 8,400 affiliated stores within the city, including restaurants and private academies.
To register as an affiliated store, business owners can apply through the Gyeonggi Local Currency website or visit the Job and Economy Division at Yangju City Hall with their business registration certificate.
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