Cheongsong-gun to lower local currency discount rate to 15% starting Monday

Cheongsong-gun in North Gyeongsang Province will lower the discount rate on its local currency, Cheongsong Sarang Hwapye, from 20 percent to 15 percent starting Monday, the county announced Friday.

The county said the move is intended to ease purchasing difficulties caused by the early depletion of the local currency supply and to allow more residents to benefit from the program.

The individual monthly purchase limit will remain unchanged at 300,000 won ($207).

"We will do our utmost to ensure a stable supply of gift certificates and a sound retail environment so that the policy effects of revitalizing the local economy and supporting small business owners can be sustained," county chief Yun Gyeong-hui said.