Pyeongtaek City to Raise Local Currency Incentive from 7% to 10% Starting in September

Pyeongtaek City in Gyeonggi Province announced on August 29 that, starting from September 1, it will increase the purchase incentive and discount rate for the local currency, Pyeongtaek Sarang Gift Certificate, from the current 7% to 10%.

With this increase in incentives, citizens will see their monthly discount benefit rise from 70,000 won to 100,000 won, based on the monthly purchase limit of 1 million won.

Currently, there are about 32,000 affiliated merchants that accept the Pyeongtaek City local currency. The city expects that this incentive increase will not only stimulate local consumption but also have a positive effect on boosting sales for small business owners.

Pyeongtaek Mayor Jung Jangsun said, "I hope this incentive increase will help revitalize the local commercial district," adding, "We will work together with the city council to support the recovery of the local economy."