Hwaseong City Expands Local Currency Issuance in September and October...Purchase Limit Raised to 1 Million Won

[Suwon Ilbo=Park Chan-hyuk Reporter] Hwaseong Special City announced on the 2nd that it will double the individual purchase limit for which incentives are granted for the "Hope Hwaseong Local Currency" from a monthly maximum of 500,000 won to 1 million won over the two months of September and October.

The incentive maintains 10% of the purchase amount, and those who charge 1 million won can receive 100,000 won.

The Hope Hwaseong Local Currency will be usable until November 30th not only at existing merchant locations but also at non-participating businesses with annual revenue of 3 billion won or less (places accepting Consumer Recovery Coupons).

This expanded issuance is a measure to align with the government's consumer recovery policy direction and promote local economic vitalization and consumer spending. It is expected to substantially contribute to recovery of consumer sentiment dampened by reduced household spending and to expansion of sales for small business owners and self-employed individuals.

Mayor Jung Myeong-geun said, "This expanded local currency issuance will help stabilize residents' livelihoods ahead of the holidays and will serve as an opportunity to invigorate the local economy," and added, "Going forward, I will drive consumer spending and regional business recovery through effective local currency policies."