Icheon to Offer 7% Cashback for Local Currency Payments at Stores with Annual Sales Under 300 Million Won Starting Next Year

Eligibility for Affiliated Stores Expanded from 1.2 Billion to 3 Billion Won
Christmas Event: Prize Draw for Payments Made on the 25th

The city of Icheon in Gyeonggi Province will provide consumers with 7% cashback when they pay with local currency at small business stores within the city.

On December 18, the city announced that starting next year, it will implement the "Small Store Love Consumption Support Fund" program for small business owners with annual sales of 300 million won or less.

This initiative was established to address the concentration of local currency use at large stores and to expand support for small business owners.

When consumers make payments with local currency at eligible stores, they will receive 7% of the purchase amount as cashback. The monthly cashback limit per person is 50,000 won. According to the city, 73% of local currency-affiliated stores in Icheon are small businesses with annual sales of 300 million won or less.

Starting next year, the city will also expand the annual sales eligibility for local currency-affiliated stores from 1.2 billion won or less to 3 billion won or less. This adjustment aligns with government and Gyeonggi Province operational guidelines, as the local currency issuance support program is being converted to a national government-funded project.

With the relaxed eligibility criteria, small business owners wishing to register as local currency-affiliated stores can apply online through the Gyeonggi Local Currency app or website, or visit the Job Policy Division at Icheon City Hall in person.

The city expects that the relaxed criteria will increase the number of locations accepting local currency, thereby boosting small business sales and revitalizing the local economy. In particular, the implementation of the consumption support fund for small affiliated stores is expected to provide substantial support for the revitalization of neighborhood businesses and management stability.

The city plans to conduct various promotional activities to help citizens and small business owners easily understand the changes.

Meanwhile, to mark the end of the year, the city has prepared the "Icheon Love Local Currency Christmas Special Event," in which consumers who spend 50,000 won or more in local currency on Christmas Day, December 25, will be entered into a prize draw.

The city will select 1,040 winners by lottery and provide each with 10,000 won in local currency. The local currency will be distributed on January 16 of next year. However, recipients must use the awarded local currency within two months.