Incheon's Local Currency, 'I-eum Card', Sees Over Half of Payments at Restaurants, Supermarkets, and Academies... 10% Cashback on Up to 1 Million Won Limit This Month

It has been analyzed that more than half of the payments made using Incheon's local currency, the "I-eum Card," occur in sectors closely tied to citizens' daily lives, such as restaurants and supermarkets.

According to an analysis by the Incheon Metropolitan City of the cumulative I-eum Card transaction volume of 15.132 trillion won from 2022 to mid-July of this year, general and resting restaurants accounted for the largest share at about one-third, or 4.5842 trillion won.

General retail, which includes neighborhood supermarkets and convenience stores, followed at 17.3% (2.6237 trillion won), private academies at 10.5% (1.5895 trillion won), and the food and beverage retail sector, including fruit stores, butcher shops, and seafood markets, at 9.9% (1.4990 trillion won).

The city analyzed that payments in these three sectors—restaurants, general retail, and food and beverage retail—accounted for 58% of the total, showing that the Incheon I-eum Card is primarily used in industries closely related to everyday life.

An analysis of 2024 I-eum Card transaction data by the Incheon Research Institute showed that more than 80% of total transactions occurred at businesses with annual sales of less than 3 billion won.

The Incheon I-eum Card cashback, which was temporarily suspended due to budget exhaustion in July of this year and resumed on September 18, will accumulate 10% of the spending amount for this month with a monthly limit of 1 million won in celebration of Chuseok, and a monthly limit of 500,000 won from next month until the end of the year.

As of the end of August, the number of I-eum Card subscribers stood at 2.76 million, approaching the total Incheon population of 3 million.

(Photo provided by Incheon Metropolitan City, Yonhap News)
※ Please note: This article was translated by AI and may contain errors.