Incheon city will resume the 10 percent cashback benefit on its local currency card "Incheon e-eum" on Friday — three days ahead of the originally scheduled date.
The city moved up the launch to capture peak consumer spending ahead of the chuseok holiday weekend.
Incheon plans to use 13.4 billion won ($9.79 million) in newly secured national government funds to boost consumption before the chuseok holiday.
From Friday through Sept. 30, the monthly spending cap on Incheon e-eum will be raised from 500,000 won to 1 million won, with 10 percent of each payment returned as cashback.
Residents in Ganghwa-gun and Ongjin-gun, areas with relatively weaker economic conditions, will receive a higher cashback rate of 15 percent.
To sustain consumer momentum after the holiday, the city plans to continue operating the card with a monthly spending cap of 500,000 won and a 10 percent cashback rate from October through the end of December.
Additional support measures to help stabilize living costs are also in place. Customers who use businesses designated as "good-price establishments" — local shops that keep prices low — will receive an extra 5 percent cashback on top of the standard rate.
The city also expanded its supported mobile payment services to include Kakao Pay and Naver Pay, adding to the existing lineup of Samsung Pay and KB Pay, to improve convenience for users.
"We will manage Incheon e-eum with care to ensure it operates stably without interruption, and do our utmost to revive the livelihoods of our residents," Incheon Mayor Park Chan-dae said.
gilbert@heraldcorp.com
