KB Pointree rewards now convertible to local currencies across 54 municipalities

KB Kookmin Card customers will soon be able to convert their Pointree rewards into local currencies, including Gyeonggi Province's local currency and Cheongju Pay. The expansion will nearly triple the number of participating local governments to 54 nationwide.

KB Kookmin Card announced it will add 36 municipalities — including the Gyeonggi Province local currency and Cheongju Pay — to its Pointree-to-local-currency conversion service starting Oct. 6, in partnership with Kona I. Both KB Kookmin Card members and Kona I local currency members will be able to use the service through their respective local currency apps.

Converted currency can be spent at small-business merchants in the relevant region. One Pointree point converts to one won, with conversions available in increments of one point starting from a minimum of 10 points, up to a monthly cap of 100,000 points.

The Pointree local currency conversion service launched June 22, initially covering 18 municipalities including Cheonan Love Card and Gyeongju Pay. Converted points are deducted first when making local currency payments.

KB Kookmin Card and Kona I said they expect the expanded service to broaden how customers use their points while also stimulating spending within local communities.

"We expanded the local currency conversion service to more regions so customers can make better use of their Pointree rewards," a KB Kookmin Card official said. "We hope the points flow into local spending and help boost sales for small-business owners and invigorate regional economies."