[Suwon Ilbo=Seo Dong-young Reporter] Osan City announced on the 7th that it decided to distribute its own disaster basic income of 100,000 won per resident entirely through the 'Osaekheon' local currency card, marking the first case in Gyeonggi Province.
The city has been distributing 100,000 won per resident from a 22-billion-won disaster basic income project starting from the 20th of last month. With Gyeonggi Province also providing 100,000 won in disaster basic income, a family of four would receive 800,000 won per person at 200,000 won.
The city plans to distribute the disaster basic income through the 'Osaekheon' local currency card, which is used only in the Osan region, to drive increased sales in local alleyway commercial districts.
Osan City was the first in Gyeonggi Province to issue disaster basic income from basic local governments 100% exclusively through local currency cards. Subsequently, Ansan, Pocheon, and Guri cities decided to provide disaster basic income only through local currency.
By the end of April, 83,356 Osan local currency 'Osaekheon' cards had been distributed. When disaster basic income distribution is completed by May, it is projected that 120,000 local currency 'Osaekheon' cards will be in circulation. For some minors, disaster basic income is provided through their parents' local currency cards.
Following its own and Gyeonggi Province's disaster basic income, the city expects that if the government decides on disaster relief funds in the future, approximately 100 billion won in funds will be released, which is expected to provide significant momentum for local economic revitalization.
Osan City's local currency, which must be spent within three months, can only be used in the city or county where the resident's address is located to promote local economic activation, and cannot be used at department stores, large discount stores, or specified business types.
Even after three months when disaster basic income spending ends, the city plans to establish a virtuous cycle system to enable citizens to continuously use the 'Osaekheon' local currency, prevent capital outflow from the region, and make all-out efforts to revitalize the local economy that has been stagnant due to COVID-19.
Osan Mayor Kwak Sang-wook stated, "By distributing disaster basic income 100% through 'Osaekheon' for the first time in Gyeonggi Province, we have established a solid system for local economic revitalization," and added, "We will continuously increase the circulation of local currency to increase sales for small business owners facing difficulties from COVID-19 and revitalize alleyway commercial districts."
When making payments with Osan local currency 'Osaekheon', the city provides income tax deduction benefits of up to 60% on the amount spent until June 30, and when used in traditional markets, residents can receive up to 80% income deduction.