Incheon Expands Local Currency Cashback from 5% to 10%... Launches 1,000 Won Delivery and Ticket Programs

Announcement of Emergency Livelihood and Economic Stabilization Plan
Creation of 400 Billion Won Policy Fund

Incheon City will implement an "emergency livelihood and economic stabilization plan" that includes expanding local currency cashback and strengthening financial support for small and medium-sized enterprises (SMEs) and small business owners, in order to revive the stagnant local economy.

According to the city on the 24th, the current 5% cashback rate for the local currency Eum Card (Incheon Sarang Gift Certificate) will be raised to 7% starting next month, and to 10% from September. The cashback policy will apply to affiliated stores with annual sales of at least 300 million won and up to 3 billion won. In Ganghwa-gun and Ongjin-gun, which are areas experiencing population decline, the cashback rate will be increased to a maximum of 15%.

The city will also provide financial support for SMEs and small business owners, including 400 billion won in business stabilization funds.

In collaboration with NH Nonghyup Bank, the city will prepare a total of 200 billion won in funds to ease financial difficulties for SMEs. In addition, 100 billion won will be provided together with the Korea Technology Finance Corporation to support the management stability of technology-innovative SMEs. For small business owners facing management crises, an additional 100 billion won will be provided in cooperation with K Bank, Kakao Bank, and the Incheon Credit Guarantee Foundation.

The number of electric cargo trucks eligible for subsidy support will be increased by 370 units, which is intended to reduce the financial burden on self-employed individuals and small business owners, while also contributing to the transition to eco-friendly transportation.

Yoo Jungbok, mayor of Incheon, is announcing an emergency livelihood and economic stabilization plan on the 24th. Incheon City

This plan also includes expanding Incheon’s so-called "1,000 Won Series" policies, such as the "1,000 Won Housing" for newlyweds and the "Incheon-style 1,000 Won Breakfast" for university students.

The city will supplement its existing "half-price delivery" policy by introducing the "1,000 Won Delivery" program next month, lowering delivery fees for small business owners to 1,000 won. In September, the city will launch the "1,000 Won Ticket" program, allowing 10,000 people nationwide to access Incheon’s cultural, tourism, and sports programs for 1,000 won, with the aim of encouraging cultural consumption among citizens and revitalizing the local tourism and cultural industries.

In addition, the city will continue campaigns to boost local product purchases and expand the participation of local companies in public institution procurement projects. In the second half of the year, the city plans to revise related ordinances to protect local construction companies and sign business agreements with 13 government public institutions within the region, focusing on increasing the contract and subcontract rates for local companies.

Yoo Jungbok, mayor of Incheon, said, "We have made efforts to mobilize all available means to prepare practical measures to overcome the difficult economic situation," adding, "We will continue to expand livelihood policies that have a tangible impact on citizens."