Gwangmyeong City to Raise Local Currency Purchase Limit from 700,000 to 1 Million Won This Month

10% Incentive Rate
Up to 100,000 Won in Benefits

On September 1, Gwangmyeong City in Gyeonggi Province announced that it will increase the monthly purchase limit for its local currency, "Gwangmyeong Sarang Currency," from 700,000 won to 1 million won for the month of September ahead of the Chuseok holiday.

The city explained that this increase in the purchase limit is intended to support small business owners struggling due to the economic downturn and to ease the financial burden on citizens ahead of Chuseok.

As a result, if citizens recharge their "Gwangmyeong Sarang Currency" up to the new limit of 1 million won this month, they will receive a maximum benefit of 100,000 won thanks to a 10% incentive.

"Gwangmyeong Sarang Currency" can be used at traditional markets, neighborhood shopping districts, and small business stores within the city. Merchants can be checked and recharges can be made through the Gyeonggi Local Currency App.

Previously, starting last month, the city expanded the eligible businesses for local currency usage to those with annual sales of 3 billion won or less, effective until November 30, the deadline for using the livelihood recovery consumption coupons.

Choi Oknam, head of Gwangmyeong City's Job Creation Division, said, "We hope that this increase in the recharge limit will reduce the financial burden on citizens and bring warmth to the local economy. We will continue to pursue local economic revitalization policies that citizens can truly feel."