Suwon to Raise Suwon Pay Incentive Discount Rate to 10% Next Year

[Suwon Ilbo=Reporter Jung Jun-sung] Suwon City announced on the 13th that it will expand the incentive discount rate for 'Suwon Pay' to 10% (from the existing 6%) and increase the charging limit to 500,000 won (from the existing 300,000 won) throughout next year to revitalize the local economy. During the Lunar New Year and Chuseok holidays, the incentive discount rate will be increased to as high as 20%.

Mayor Lee Jae-jun held an "emergency meeting to discuss urgent issues in the local economy" with Council Speaker Lee Jae-sik, Vice Speaker Kim Jung-ryeol, and standing committee chairs at his office on the 12th, and discussed pending issues in the local economy.

The city and city council decided to actively cooperate in expanding the incentive discount rate for Suwon Pay, a local currency.

Mayor Lee Jae-jun said, "Recent political and social instability continues to bring a crisis situation across the local economy," and added, "To overcome the crisis and revitalize the local economy, I will continue to communicate and cooperate with the council."