Busan is good

Busan Metropolitan City Launches “High Oil Price Damage Support Fund” Event… Up to KRW 50,000 in Benefits for Dongbaekjeon Users!

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Busan Metropolitan City, led by Mayor Park Heong-joon, announced that it will hold a prize draw event for citizens who apply for and use the “High Oil Price Damage Support Fund” through Busan’s local currency, Dongbaekjeon, in order to promote its usage.

This event automatically enters users who receive and spend the “High Oil Price Damage Support Fund” via Dongbaekjeon. A total of 10,110 winners will be selected through a draw, receiving policy support funds worth up to KRW 50,000, with a total prize pool of approximately KRW 100 million.

Applications for the “High Oil Price Damage Support Fund” via Dongbaekjeon are available both online and offline. Online applications can be made through the Busan Is Good Dongbaekjeon app, while offline applications can be submitted at Busan Bank branches.

The event period runs from April 27 to July 31. Citizens who spend a cumulative total of KRW 150,000 or more using Dongbaekjeon for the “High Oil Price Damage Support Fund” will be automatically entered into the event.

Prizes include Dongbaekjeon policy support funds of KRW 50,000 for 10 first-place winners, KRW 30,000 for 100 second-place winners, and KRW 10,000 for 10,000 third-place winners.

The policy support funds for this event are sponsored by Dongbaekjeon card issuers, including Busan Bank, Kona I, Hana Card, and NongHyup.

Winners will be announced in August through the Busan Is Good Dongbaekjeon app and the Busan Is Good Dongbaekjeon website (busandong100.kr). For further details, users may refer to the Dongbaekjeon app or contact the Small Business Support Division of Busan Metropolitan City at 051-888-4794.

In addition, citizens who apply for the “High Oil Price Damage Support Fund” via Dongbaekjeon can enjoy various benefits beyond the prize event.

When using a Dongbaekjeon debit card, additional benefits such as a 2% discount at traditional markets are provided depending on the previous month’s usage performance (which varies by card issuer), although Dongbaekjeon cashback is not granted in this case.

Furthermore, payments through the Dongbaekjeon app are available on the public delivery app “Ttaenggyeoyo,” allowing more convenient use compared to general cards that only support in-person payment.

Meanwhile, the city has been operating Dongbaekjeon cashback rates of up to 10% within a monthly limit of KRW 500,000 since January to stimulate local consumption and increase sales for small businesses, and will continue to promote support measures for revitalizing the local economy and boosting small business revenue.

Cashback rates by merchant annual sales are as follows:

• ●Merchants with annual sales of KRW 1 billion or less: 10%

• ●Merchants with annual sales between KRW 1 billion and KRW 3 billion: 8%

• ●Merchants with annual sales exceeding KRW 3 billion: No cashback provided

• ●Public platforms such as the delivery app “Ttaenggyeoyo,” the taxi-hailing app “Dongbaek Taxi,” and the online regional marketplace “Dongbaek Mall”: 10%

Kim Bong-cheol, Assistant Mayor of Digital Economy Office, stated, “The High Oil Price Damage Support Fund is expected not only to help stabilize citizens’ livelihoods, but also to promote local consumption through Dongbaekjeon, thereby providing practical support to neighborhood commercial districts and small business owners. We will continue to make every effort to stabilize livelihoods and revitalize the local economy by utilizing the local currency Dongbaekjeon.”