Incheon e-Eum resumes 10% cashback to boost local economy

Incheon Metropolitan City has announced the resumption of the 10% cashback benefit for its local currency platform, Incheon e-Eum, effective from midnight on the 18th. To support consumer spending ahead of the Chuseok holiday, the monthly payment limit will be increased from 500,000 won to 1,000,000 won through the end of September. In Ganghwa and Ongjin counties, the cashback rate will be set at 15%.

Following the holiday period, from October to December, the monthly limit will return to 500,000 won while maintaining the 10% cashback rate. The city has also expanded payment convenience by adding Kakao Pay and Naver Pay to its existing support for Samsung Pay and KB Pay. Users of designated 'Good Price Stores' will receive an additional 5% benefit.

To ensure the long-term sustainability of the program and reduce reliance on government subsidies, Incheon City is exploring new revenue models for the platform, which currently has 2.75 million users. This includes studying advertising-based monetization similar to the Gyeonggi regional currency model. The city plans to consult with the platform operator, Kona I, to examine legal constraints and profit-sharing methods to maximize citizen benefits.