Osan City receives merchant registration applications for 'Osaekchjeon' local currency

[Suwon Ilbo=Reporter Seo Dong-young] Osan City is accepting merchant registration applications for unregistered merchants of local currency 'Osaekchjeon' through both online and offline channels.

This is a measure implemented in accordance with the "Local Community Gift Certificate Activation Act" which has been in effect since July this year to prevent illegal distribution of local currency.

Previously, if 'Osaekchjeon' local currency merchants were credit card merchants, payment was possible without separate merchant registration as long as they did not fall under restricted business categories. However, with the implementation of the Local Community Gift Certificate Act, separate registration as a local currency merchant is now mandatory.

Registration targets are local currency merchants within the city, excluding large discount stores, entertainment and gambling establishments, and franchise headquarters operations. Existing merchants must complete their applications by the end of this year, and upon completion, they will be registered as merchants the next day.

New merchants who opened after October 5 will complete registration within 7 days following their application date after going through the merchant registration procedures in accordance with municipal ordinances.

If businesses operate as merchants without registering, their payment processing may be restricted or they may face administrative fines of up to 20 million won.

To apply, merchants can verify their identity through the merchant registration website (https://with.konacard.co.kr/1-22) and submit their application. Alternatively, applications can be made online through Document24, by visiting the City's Local Economy Division, or through an on-site marketing representative.

The city plans to conduct multi-faceted promotional efforts including text message notifications to merchants, city website, SNS, local community platforms, and guidance from relevant organizations to ensure smooth progress of merchant registration.

Osan Mayor Kwak Sang-wook stated, "Currently, approximately 70% of Osan citizens are using Osaekchjeon," and added, "We hope that business owners will actively register to promote local economic vitalization through smooth use of Osaekchjeon."

For more information, please refer to the Osaekchjeon website (www.osan.go.kr/money) or contact the Osan City Local Economy Division (031-8036-8949).