Gyeonggi Province Launches Crackdown on Illegal Distribution of Regional Currency Until Next Month

[Suwon Ilbo=Reporter Kim Gap-dong] Gyeonggi Province announced on the 25th that it will conduct a province-wide crackdown until the 20th of next month to prevent illegal distribution of Gyeonggi regional currency and establish proper usage practices.

The province has organized a task force consisting of 117 personnel, which will verify illegal distribution practices through telephone calls and on-site inspections based on approximately 9,000 suspected cases identified by the fraud detection system (FDS) and civil complaints submitted through the illegal distribution reporting center.

The main targets of the crackdown at affiliated merchants of Gyeonggi regional currency in the province include: △cases where regional currency is received without providing goods or services △cases where gift certificates are acquired and exchanged through transactions exceeding actual sales amounts △cases where regional currency is used in restricted sectors such as entertainment establishments and gambling industries △cases where products are treated unfavorably compared to cash payments.

According to the Regional Love Gift Certificate Act, refusing, obstructing, or evading investigations into violations can result in administrative fines of up to 5 million won. Those conducting merchant operations without being registered as merchants face measures such as cancellation of merchant registration or administrative guidance depending on the degree of violation.

Kim Gwang-deok, director of the Regional Finance Division at Gyeonggi Province, said, "Through continuous inspections, we will enhance the credibility of Gyeonggi regional currency and promote a healthy circulation of the regional economy," and "We hope that Gyeonggi regional currency will help revitalize small businesses and back-alley commercial districts."

Anyone who becomes aware of or witnesses suspected cases of illegal distribution of regional currency can report them to the Gyeonggi Province Call Center (031-120) or the regional currency department of their respective city or county.