In order to support small business owners suffering from the economic downturn and revitalize the local economy by promoting consumption, Anyang City has designated January to April as the ‘consumption promotion period’ and is issuing an additional 50 billion won in local currency (Anyang Love Pay).
At the 299th Anyang City Council extraordinary meeting held from 10 a.m. on the 10th, a budget of 5 billion won for additional issuance of local currency was allocated as the first supplementary budget.
Previously, Anyang City had allocated a budget of 4.35 billion won in the main budget to issue 62.9 billion won in local currency this year.
With this additional issuance of 50 billion won, Anyang City will issue a total of 112.9 billion won in local currency this year.
Accordingly, starting from the 20th of this month, citizens can receive a 10% discount (previously 6%) when recharging Anyang Love Pay from the Gyeonggi local currency app or purchasing with a branch at NH Nonghyup and Livestock and Horticulture Agricultural Cooperative. The purchase limit per person is 200,000 won for card type and 100,000 won for paper type.
Previously, Anyang City issued local currency worth 10 billion won on January 1 of this year, and the response from citizens was so enthusiastic that it was sold out in half a day. It is expected that many citizens and small business owners will benefit from this additional issuance ahead of the Lunar New Year holiday.
Anyang Mayor Choi Dae-ho judged that it was urgent to recover frozen consumer sentiment, and agreed with local lawmakers and Anyang City Council members on this additional issuance.
Mayor Choi said, “Local currency is a support for the local economy that allows locally issued sales to circulate within the region,” and added, “We will actively promote it to revive the depressed consumer sentiment.”
Meanwhile, Anyang City is strengthening the courtesy of national veterans who have devoted themselves to the country and society.
Starting this year, Anyang City will pay quarterly veterans’ honorary allowances by increasing it from 300,000 won to 360,000 won. The annual payment amount is 1.44 million won per person.
Anyang City, which has been actively working to improve the welfare of veterans, raised the veterans honor allowance again three years after the previous increase in 2021.
Approximately 6,000 people residing in Anyang City include veterans of the war and national merit, and the budget size is 8.6 billion won.
Anyang Mayor Choi Dae-ho said, “Respect and support for veterans and their bereaved families who have devoted themselves to the country are precious values that our society must uphold.” “We have decided on a raise,” he said.
Existing beneficiaries can receive the increased amount without a separate application, and those who have moved to Anyang City can apply by visiting the administrative welfare center in the jurisdiction of their residence. Payment period is the 15th of January, April, July, and October.
Economy Queen Reporter Kim Hong-mi / Photo Anyang City
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