Osan City Raises Osaekjeon Local Currency Recharge Limit from 300,000 to 1 Million Won

Purchase Limit Increased Through Government Supplementary Budget... Up to 100,000 Won in Benefits
Lee Gwonjae, Mayor: "We Will Strive for Economic Revitalization That Citizens and Merchants Can Feel"

Osan City in Gyeonggi Province will increase the purchase limit for its local currency, Osaekjeon, which had been suspended earlier this month due to budget exhaustion.

On July 4, Osan City announced that, as part of its policy to revitalize the local economy, it will resume providing incentives for Osaekjeon starting from the 9th and raise the recharge limit from 300,000 won to 1 million won.

This increase in the purchase limit was made possible after securing 1.8 billion won in national and provincial funds through the government's first supplementary budget.

Along with expanding the recharge limit, the city will also maintain the purchase incentive rate, which was raised from 6% to 10% in May. As a result, consumers who purchase 1 million won worth of Osaekjeon will receive a total of 1.1 million won credited to their account.

Citizens who purchased Osaekjeon earlier this month can also apply for additional incentives up to the new limit of 1 million won. However, this expanded purchase limit may end early if the budget is exhausted.

Osaekjeon can be used at a variety of affiliated stores in the city, including traditional markets, restaurants, private institutes, and hair salons. The list of affiliated stores can be found on the Osaekjeon website and the Gyeonggi Local Currency app.

Lee Gwonjae, Mayor of Osan, stated, "Through the resumption of these incentives, we aim to create a local economic recovery that both citizens and merchants can feel."