Osan City Extends Validity Period of Osaek Jeon Incentives Until Next March

[Suwon Ilbo=Reporter Park Chan-hyeok] Following its selection as an "Excellent Local Government for Local Currency Operations" by the Ministry of the Interior and Safety, Osan City announced on the 17th that it is extending the validity period of Osaek Jeon payment incentives from December 31 to March 31 of next year.

The city explained that this measure is an adjustment to allow citizens to sufficiently utilize the benefits they received.

The city has secured 675 million won in national funds and will implement an "Excellent Local Government Special Event" from the 17th through December 31, providing an additional 5% when paying with Osaek Jeon. With this extended validity period, citizens can now use the incentives over a more generous timeframe.

The city expects that this measure will generate approximately 13.5 billion won in issuance and consumption effects within the region, which is anticipated to help improve small business sales and facilitate the circulation of the regional economy.

In particular, as this selection as an excellent local government is an achievement made possible through citizens' steady participation, the extended validity period is expected to increase convenience in using incentives and have a positive impact on the local commercial sector.

Mayor Lee Gwon-jae stated, "Osaek Jeon is an important policy tool leading regional economic vitality and small business recovery," and added, "We will continue to improve the system so that citizens can fully enjoy its benefits, and together with the citizens, we will create changes that revitalize the regional economy."