Osan City Expands Osaegjeon Local Currency Incentive to 10% for Lunar New Year Holiday

[Suwon Ilbo=Park Chan-hyeok, Reporter] Ahead of the Lunar New Year holiday, Osan City announced on the 29th that it will increase the incentive rate for the local currency 'Osaegjeon' from the existing 8% to 10% beginning February 1st to ease the financial burden on citizens caused by high prices and economic downturn.

This expansion of the incentive is designed to provide tangible benefits that citizens can feel during the holiday period when consumption concentrates on preparations such as ancestral rites, and to encourage spending at traditional markets and alley businesses.

The city will adjust the Osaegjeon charging limit from the existing 1 million won to 500,000 won so that more citizens can utilize the limited incentive budget during the holiday period. Accordingly, the maximum incentive a citizen can receive is 5,000 won per person.

The Osaegjeon incentive will be provided on a first-come, first-served basis immediately upon charging until the budget is exhausted, and if all funds are depleted, the incentive distribution will end early.

Osaegjeon can be used at various affiliated merchants including traditional markets, restaurants, and academies within the city. Information about affiliated merchants can be found on the 'Gyeonggi Local Currency' app and the Osaegjeon website.

The city has been operating local currency incentives in 2025 with consideration for periods when consumer demand concentrates such as holidays. This increase in the Osaegjeon incentive for the Lunar New Year is also being pursued as part of such proactive administration.

Mayor Lee Kwon-jae said, "We have decided to increase and operate the local currency incentive rate for the Lunar New Year holiday," and added, "We will continue to push forward with policies to revitalize the local economy without interruption."