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

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

The individual purchase limit is 500,000 won. When charged up to the limit, citizens receive 50,000 won in 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 plans to increase tangible benefits for residents during the holiday season when spending on holiday goods and gifts increases, and aims to boost the local economy by channeling consumption through local currency into increased sales for small business owners and neighborhood merchants.

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

Osan Mayor Jo Yong-ho said, "I hope this incentive expansion will lighten the burden of holiday shopping for citizens and help small business owners' sales," and added, "We ask for your active participation so that consumption within our region can translate into vitality for neighborhood businesses."