South Korean municipalities expand local currency benefits to boost consumption

Several municipalities in South Korea are increasing benefits for local currency users to stimulate regional economies and alleviate the burden of high living costs.

In Anyang, the city is offering an additional 5% cashback on Anyang Love Pay card payments from May 5 to May 15 in conjunction with the Korea Grand Festival. Users can receive a maximum of 10,000 won in points, provided the budget lasts.

In Chungnam province, several cities have announced expanded incentives. Cheonan has raised its Cheonan Love Card cashback rate from 10% to 15%, with an additional 5% available at designated low-price businesses, totaling a 20% benefit. Dangjin is providing a 5% refund on Dangjin Love Gift Certificate payments through May 15 and has increased the monthly purchase limit to 600,000 won.

Seosan and Asan are also implementing additional cashback programs. Seosan is offering a 5% cashback on mobile Seosan Love Gift Certificates through May 15, while Asan is providing a 5% cashback on mobile Asan Pay, which can reach a total of 10% at certain businesses.