Osan City Reduces Chuseok Shopping Burden with 10% Local Currency Incentive

Osan City announced that it will expand its local currency incentive from the existing 8% to 10% starting September 1 ahead of Chuseok.

The individual purchase limit is 500,000 won. When charged up to the limit, citizens receive a 50,000 won incentive, allowing them to use a total of 550,000 won. Incentives will be provided on a first-come, first-served basis until the budget is exhausted.

The city aims to increase tangible benefits to citizens during the holiday season when spending on seasonal goods and gift purchases increases, and to revitalize the local economy by linking consumption through local currency to increased sales for small merchants and alleyway shops in the area.

Local currency can be used at registered merchants within the city, but its use is restricted at large discount stores, department stores, some large-scale retailers, and certain restricted business categories.

Osan City Mayor Cho Yong-ho stated, "I hope this incentive expansion will ease the burden on citizens' holiday shopping baskets and also help increase sales for small merchants," and added, "I ask for your active participation so that consumption within our community can translate into vitality for our alleyway shops."