▲ Hwaseong City Hall
Hwaseong Special City in Gyeonggi Province announced on the 29th that it will adjust the monthly purchase limit eligible for incentives on the "Himang Hwaseong" local currency from 1 million won to 500,000 won per person, starting next month through the end of the year.
The incentive rate remains at 10% of the charged amount, the same as before.
This adjustment is a measure to provide incentive benefits to more citizens within a limited budget.
Due to the recent increase in local currency users, the budget was rapidly depleted right after recharging began on the 1st of every month, leaving many citizens unable to receive incentive benefits.
Last month, the budget was depleted just 1 hour and 21 minutes after recharging began, and this month—despite a 2.7-fold increase in the budget—the budget was depleted in just 1 hour and 28 minutes.
Hwaseong City expects that if more citizens receive incentive benefits through the adjustment of the recharge limit, the places where local currency is used will also diversify, helping to revitalize the local economy.
Hwaseong Mayor Jeong Myeong-geun said, "Local currency is an important policy that supports the livelihood stability of citizens and the recovery of local commercial districts," adding, "Moving forward, we will continue to prepare various measures so that more citizens can experience the benefits of the local currency."
(Photo provided by Hwaseong City, Yonhap News)
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