Gwangmyeong City to Offer 10% Incentive and 5% Cashback on Local Currency Next Month

Use 770,000 Won When Charging 700,000 Won... Up to 70,000 Won Cashback Per Payment
Park Seungwon: "Policies to Support Economic Recovery Will Continue in the New Year"

Gwangmyeong City in Gyeonggi Province announced on December 31 that it will provide a 10% incentive and a 5% cashback for its local currency, “Gwangmyeong Sarang Currency,” starting in January next year.

Accordingly, if a consumer charges 700,000 won, which is the maximum amount eligible for the incentive, they will receive a 70,000 won incentive. In addition, when making payments with the local currency, consumers can receive a 5% cashback on their transactions.

The cashback limit is set at 70,000 won, and the amount provided must be used by February 28 of next year. However, incentives and policy allowances are excluded from the cashback program.

Park Seungwon, Mayor of Gwangmyeong, stated, “In the new year, we will continue to support local businesses through Gwangmyeong Sarang Currency and do our utmost to help everyone feel the recovery of the local economy.”

Previously, the city maintained an incentive rate of at least 10% for Gwangmyeong Sarang Currency throughout this year. In particular, to boost year-end consumption and expand support for small business owners, the city offered an exceptional 15% incentive and raised the charging limit to 1 million won during November and December.

Thanks to these policies, the number of Gwangmyeong Sarang Currency users has reached approximately 286,000, accounting for 97.7% of the city’s total population.