Osan City Raises Incentive Limit for Osaegjeon Local Currency

[Suwon Ilbo=Reporter Park Chan-hyeok] As part of its policy to revitalize the people's economy, Osan City announced on the 4th that it will additionally distribute incentives for the local currency "Osaegjeon," which was completely exhausted in early July amid high citizen participation, from July 9 to 31, and will also raise the charging limit.

Previously, the city had raised the Osaegjeon incentive rate from the existing 6% to 10% starting in May.

Following the increase in the incentive rate, citizen participation grew significantly, leading to a sharp increase in usage. As a result, the budget ran out early in early July. Accordingly, the city decided to provide additional distribution by investing 1.8 billion won in national treasury funds secured through the government's first supplementary budget.

The additional distribution maintains a 10% discount rate, and the charging limit has been significantly increased from the existing 300,000 won to 1 million won, allowing citizens to receive up to 100,000 won in incentives. Citizens who received incentives in early July can also apply for additional amounts up to the remaining balance within the total 1 million won limit, and early closure is possible if the budget is exhausted.

Osaegjeon can be used at various affiliated stores in the city, including traditional markets, restaurants, private academies, and beauty salons. Information on affiliated stores is available on the "Osaegjeon Homepage" and the "Gyeonggi Regional Currency" app.

Since the launch of the 8th popularly elected administration, the city has consistently promoted Osaegjeon as a key policy for revitalizing the local economy. In particular, following the May increase in the incentive rate, this additional distribution is expected to further promote local consumption and provide substantial help to alleyway shopping districts and traditional markets.

Mayor Lee Gwon-jae said, "Osaegjeon has become established in citizens' lives and has contributed to increased sales in traditional markets and small businesses," adding "Through this resumption of incentives, we will create local economic recovery that both residents and merchants can feel together."