Donghae City Raises Donghae Pay Incentive to 20% for Chuseok

Special Increase in Donghae Pay Incentives for Two Months
Aimed at Boosting Consumer Spending and Small Business Sales
Emergency Support Timed with Donghae Mureung Festival and Chuseok
Maximum Incentive Rate Raised to 20% to Revitalize Local Economy

Donghae City in Gangwon Province (Mayor Shim Kyueon) announced on September 2 that, in order to ease the financial burden on citizens caused by high inflation and economic downturn and to revitalize the local economy, it will specially increase the incentive payment rate for Donghae Pay from the existing 10% to a maximum of 20% for two months, from September 1 to October 31.

Incentive payment rate for Donghae Pay specially increased from the original 10% to a maximum of 20%. Provided by Donghae City

This measure is an emergency support plan timed to coincide with major spending periods such as the 38th Donghae Mureung Festival in September and the Chuseok holiday in October. Its purpose is to promote the recovery of livelihoods and to boost local commercial districts.

Donghae Pay, which has driven approximately 40 billion won in local spending from January to July this year and contributed to increased sales for small businesses, played a significant role in revitalizing the stagnant local economy, especially when combined with the first round of livelihood recovery consumption coupons distributed to all citizens since July 21. The city expects that this incentive increase will further stimulate consumer sentiment and accelerate the virtuous cycle of funds within the region.

Donghae City will allocate a total of 6 billion won (2.4 billion won from the national government and 3.6 billion won from the city budget) for this incentive increase. The incentive limit remains unchanged at 500,000 won per person, with a maximum benefit of up to 100,000 won. After November, depending on budget conditions, the payment rate will be flexibly managed within the range of 15% to 20%. However, the program may end early if the budget is exhausted.

Shim Kyueon, Mayor of Donghae City, stated, "Donghae Pay has become an important link, not just as a simple payment method, but as a means of stabilizing citizens' lives and revitalizing local businesses. I hope that this incentive increase will serve as an opportunity to promote livelihood recovery and inject new vitality into the local economy."