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| ▲ Gyeonggi-do President Jang Hyun-guk, Gyeonggi Governor Lee Jae-myung, Gyeonggi-do Gyeonggi-do Governor Park Geun-cheol, and Democratic Party representatives walk together for a press conference on the plan to extend the temporary incentives. | |
| Ⓒ Gyeonggi-do |
See related photos |
“In addition to the basic 10% incentive paid when recharging local currency in Gyeonggi Province, we will provide an additional 15% incentive based on 200,000 won from the 18th of this month.”
Gyeonggi Gyeonggi Governor Lee Jae-myeong revealed through a press conference on the 9th. To recover Chuseok’s economy, which was stagnant due to the Corona 19 economic crisis, he plans to temporarily expand the incentive to charge in local currency in Gyeonggi province to a record 25%. If you top up 200,000 won in local currency, you can spend a total of 250,000 won.
The ‘limited local currency (consumption subsidy)’ payment is Gyeonggi-do’s second economic quarantine policy after the basic disaster income that was implemented in April.
Governor Lee said: “Small business owners and the self-employed, which can be called the capillaries of the public economy, were directly affected. If this is the case, extreme polarization of income, cliffs in consumer demand and the vicious cycle of economic recession will be inevitable. ” To revitalize the street economy in an extreme crisis before the Chuseok holidays, Gyeonggi Province and Gyeonggi Province prepared a plan to promote consumption using local currency incentives, “explained the background of the promotion.
“Even during war, you have to sell to eat and live … The economic quarantine is as important as the health quarantine.”
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| ▲ Image data related to additional incentives distributed by Gyeonggi-do on the 9th | |
| Ⓒ Gyeonggi-do |
See related photos |
Accordingly, Gyeonggi Province will add 30,000 won (15% of 200,000 won) to the limited edition local currency when 200,000 won or more in local currency are used within two months from the 18th, in addition to the basic incentive on the 10th. % of Gyeonggi local currency charge. give.
Therefore, to receive additional incentive benefits, at least 200,000 won in local currency must be spent no later than November 17, based on the amount used after the 18th. If used below that, only the 10th is provided. % of the basic incentive.
The basic incentive (10%) is charged immediately as before, but an additional incentive of 30,000 won, a limited edition local currency for consumption support, is paid on October 26 or November 26 when consumption is confirmed to exceed the standard quantity. Bonus incentives expire after one month from the date they are received and must be used within them.
This limited edition local currency will be paid out on a first-come, first-served basis to all residents with a Gyeonggi local currency card or mobile phone until the budget is exhausted.
This limited-edition local currency payment began when the Gyeonggi-do council proposed to use 50 billion won in support project expenses, which do not have to be executed due to domestic funding, to revitalize the local economy. Consequently, Gyeonggi-do accepted the proposal of the provincial council and, through consultations, increased the cost of the project to 100 billion won, which is twice the scale, and started it in earnest.
If the 100 billion won budget that Gyeonggi-do invests in this limited edition local currency is executed as planned, around 3.33 million users of the local currency in Gyeonggi province will benefit. Additionally, small and medium-sized merchants’ consumer sales are expected to rise to around 830 billion won, mainly in the alley business area.
Governor Lee said: “There may be allegations that the consumer promotion policy hinders health quarantine, but economic quarantine is just as important as health quarantine. Even during war, people have to consume for a minimum of life and merchants must sell products to eat and buy. ” As it is for economic quarantine in addition to quarantine, demonstrate that economic quarantine and health quarantine can be compatible as much as possible by strictly adhering to quarantine guidelines in consumer activities. ”
On the other hand, this temporary incentive expansion plan was announced by the chairman of the Gyeonggi-do Council, Jang Hyun-guk, and the Gyeonggi-do parliament, Park Geun-cheol, together with the representative of the Democratic Party.
