Osan City Extends 10% Incentive for Local Currency 'Oesaegjeon' in August

[Suwon Ilbo=Reporter Park Chan-hyuk] Osan City announced on the 31st that it is extending the 10% incentive payment for local currency 'Oesaegjeon' in August to revitalize the local economy and ease citizens' burden from high prices.

This measure was decided in reflection of strong citizen response and positive feedback regarding the incentive benefits implemented in July.

When charging Oesaegjeon during the month of August, an additional 10% of the charge amount will be accumulated. When charging a maximum of 1 million won per month, citizens can receive benefits of up to 100,000 won. However, early termination is possible if the budget is exhausted, so prior confirmation is necessary.

Oesaegjeon is a local-exclusive currency that can be used at traditional markets and alley shops within the city, providing discount benefits to citizens and sales increase effects to merchants while revitalizing the local economy.

The city expects that the Oesaegjeon incentive will help improve actual consumer conditions in a situation where consumer purchasing power has diminished due to high inflation. Analysts note that as the currency is actively used in traditional markets, neighborhood stores, and restaurants, it is having a positive impact on sales recovery for small business owners.

Additionally, the government-promoted 'People's Livelihood Recovery Consumption Voucher,' a consumer support policy usable at business establishments with annual sales below 3 billion won, is expected to work together with Oesaegjeon to boost local consumption and economic recovery. The city is also operating a 'visiting application service' for citizens who have difficulty applying.

Mayor Lee Kwon-jae stated, "We will continue to expand policies to ease the burden citizens feel from rising prices and increase economic vitality through consumption within the region," and "We will create a virtuous cycle where Osan's alley shops and small business owners thrive together."