[Provided by Gyeongju City]
[Provided by Gyeongju City]

Gyeongju city in North Gyeongsang Province will expand its Gyeongju Pay cashback benefit from 10 percent to 15 percent to coincide with the 2026 Korea Grand Festival.

The city said Thursday that it will offer an additional 5 percent cashback to Gyeongju Pay users for 17 days, from Friday through Nov. 15.

The measure is designed to boost local consumption and sales for small business owners in conjunction with the government's nationwide spending-promotion campaign, the Korea Grand Festival.

The city will commit 265 million won ($198,000) in national government funds to provide a total 15 percent cashback — the existing 10 percent plus an additional 5 percent — on Gyeongju Pay transactions during the event period.

Customers shopping at 48 designated "good-price" establishments in the city can receive up to 20 percent cashback, as an additional 5 percent benefit already in effect at those outlets since last month will stack with the expanded rate.

Gyeongju Pay currently has 202,574 users and 12,645 affiliated merchants.

Ahead of the event, the city plans to notify affiliated merchants of the details and actively promote the expanded cashback benefit through text alerts and social media.

"I hope this cashback expansion eases the financial burden on residents and breathes new life into neighborhood commercial districts," Gyeongju Mayor Ju Nak-young said. "We will continue to actively pursue livelihood economic policies to revitalize the local economy and support small business owners."


kbj7653@heraldcorp.com