Osan City Raises Osaekjeon Local Currency Incentive Rate from 6% to 10%

Implemented for Seven Months from June to December
12% Cashback During the Yamaek Festival

Gyeonggi Province's Osan City announced on May 29 that it will raise the incentive rate for its local currency, Osaekjeon, from 6% to 10% starting next month through December to revitalize the local economy.

The adjusted incentive rate will be implemented for seven months until December. It will be provided each month from the 1st until the monthly budget is exhausted. If the budget for a given month runs out, the program will end early and resume on the first day of the following month. Incentives are automatically granted when users recharge their cards. For example, if a user recharges Osaekjeon with 300,000 won in June, they can receive up to 30,000 won as an incentive.

Separately, from June 5 to June 7, during the three-day 12th Yamaek Festival, the city will run a special event offering an instant 12% cashback on payments made with Osaekjeon. The cashback event applies to all Osaekjeon-affiliated stores in Osan, with a maximum limit of 12,000 won per person. If the cashback is not used within three months of being granted, it will automatically expire.

As a result, by recharging Osaekjeon with 300,000 won, users can receive a combined benefit of up to 42,000 won, including the 10% incentive and the cashback.

The city explained that the expanded incentives are expected to ease the financial burden on citizens and help revitalize struggling local businesses.

Lee Gwonjae, Mayor of Osan, stated, "Local currency is more than just a means of consumption; it is a key policy tool for revitalizing the local economy. Through this incentive expansion, we hope to provide tangible benefits to citizens and offer small business owners an opportunity to recover their sales."