The price of living has been rising a lot recently. While using apps like Danggeun Market is a great way to save money on second-hand items, we can’t buy everything from there. If you are residing in Gyeonggi province, I have one major suggestion for you to have while you are living in Korea. Since I am living in Gyeonggi province, I am introducing this to you: the Gyeonggi Local Currency Card (경기지역화폐).
If you live in a different area in Korea, you can probably find a similar system with a different name. But for those of us near Seoul, this card is an absolute essential.
In the Gyeonggi area, there are many cities, and the rate of incentives varies depending on the city. Hwaseong City, where I live, currently provides a 10% incentive. This means if you charge your local currency card with 1,000,000 KRW, you get an extra 100,000 KRW for free.
How amazing is that? Have you ever heard of any credit card company providing that much cashback or points? Because it is run by the provincial government to help the local economy, you can get this much benefit.
In this post, I will walk you through exactly how to get this card, how to use it, and why it is a game-changer for your wallet.
What is the Gyeonggi Local Currency Card?
The Gyeonggi Local Currency Card is a recharge-type prepaid card issued by each city and county in Gyeonggi-do. It was created to revitalize the local economy by encouraging people to spend money at small businesses within their specific neighborhood.
Originally, some local governments had paper vouchers, but full-scale implementation across Gyeonggi province began in April 2019. It is designed to act like a debit card that you can use at traditional markets and small shops.
Who Can Apply?
The best part is that anyone can apply. You do not have to be a resident of that specific city to get the card.
- If you live in Seoul but work in Suwon, you can get a Suwon Pay card.
- If your parents live in Bucheon but you go to university in Hwaseong, you can get cards for both cities.
As long as you plan to spend money in that city, you can apply for the card and receive the incentives.
Why You Must Have This Card: The Benefits
1. The Incredible 6-10% Incentive
When I first started using it, the incentive was about 7%. However, since last year, Hwaseong City has been offering 10%.
Here is the math:
- You transfer 1,000,000 KRW from your bank account to the card.
- The app immediately adds 100,000 KRW as an incentive.
- Your total spendable balance becomes 1,100,000 KRW.
Some areas even offer up to 20% incentives for military personnel stationed near border areas to help the local economy. Just keep in mind that these rates can change depending on the city’s budget, so always check the app.
2. Government Subsidies & Grants
This card isn’t just for your own money. You can receive various government welfare payments directly onto this card.
- Pregnancy & Childbirth: I personally received my pregnancy subsidy on this card.
- Postpartum Care: Money for newborn care can be loaded here.
- Youth Dividends: Some cities pay youth support funds through this system.
- Disaster Relief: During COVID-19, relief funds were also distributed this way.
The convenience is unmatched. Since you can check the balance with the app on your phone, it is very easy to track where I used the money and how much is left. If you receive paper vouchers or standard prepaid cards, you always have to check the receipt or call a hotline to ask for the balance. With the Gyeonggi Local Currency Card app, everything is transparent.
Local butcher shops are one of the best places to use your card — especially if you are a parent regularly buying beef baby food at your neighbourhood butcher.
3. Income Tax Deduction
Using this card helps with your taxes, too. You can apply for income tax deduction (So-deuk-gong-je) right inside the app. This counts similarly to a debit card or cash receipt during your year-end tax settlement.
How to Get Your Card (Step-by-Step)
Getting the card is very simple. You do not need to visit a bank in person. You can do it all from your phone.
- Download the App: Search for “경기지역화폐” (Gyeonggi Local Currency) in the Google Play Store or Apple App Store.
- Note: If you live in Gimpo, Seongnam, or Siheung, they use a different app called “Chak” or a specific regional app, so check carefully.
- Sign Up: Verify your identity using your mobile phone number.
- Warning for Foreigners: You must sign up using your exact name as it appears on your Alien Registration Card (ARC) and mobile phone contract. If the names don’t match perfectly, authentication might fail.
- Select Your City: Choose the city where you want to use the card (e.g., Hwaseong, Suwon, Pyeongtaek).
- Link Your Bank Account: Connect the bank account you want to use to recharge the card.
- Order the Card: Request a physical card to be mailed to your house. It is free for the first issue.
I ordered my card through the app, and it took about 4 business days to arrive in my post box.
Recently, Hwaseong City renewed the design because it was promoted to a “Special City” with more than 1 million citizens. The new card looks very sleek!
Where Can You Use It?
Basically, you can only use the card in the city where it is registered. If you have a Hwaseong card, you cannot use it in Suwon.
Accepted Locations
The system is built to help small business owners. You can use it at:
- Restaurants and cafes
- Local butcher shops
- Neighborhood grocery stores
- Hair salons and barbershops
- Convenience stores (GS25, CU, etc.)
- Hospitals and pharmacies
- Traditional markets
Restricted Locations
To protect small businesses, you cannot use this card at large corporate chains.
- Big Marts (E-Mart, Homeplus, Lotte Mart)
- Department Stores (Shinsegae, Lotte, Hyundai)
- Starbucks (Directly managed corporate stores)
- Large franchise shops with high revenue (over 1 billion won annual sales)
This restriction is actually the purpose of the system’s birth. It forces us to look at our local neighborhood.
Whenever I go to a big supermarket, I usually have to go anyway because the variety of products and special deals at certain times cannot be ignored. However, exploring alternatives like local marts can often yield better bulk savings alternatives like local marts can often yield better bulk savings. But for fresh food, I changed my habits. If I need meat, I buy it at the nearby butcher shop. For veggies and fruits, I go to the fruit shop in my neighborhood. I refrain from buying these in the big market and try to buy more in local shops using my Gyeonggi Local Currency Card.
This is how I found the true benefit. I save money, and I help my neighbors.
Tips for Using the App and Card
Samsung Pay Support
If you are a Galaxy phone user, you are in luck. You can register your Gyeonggi Local Currency Card on Samsung Pay. This means you don’t have to worry about bringing the physical card along all the time. Just tap your phone!
Using the App “Kona Card”
Most of Gyeonggi-do uses a system powered by “Kona I”. The app is very user-friendly. You can:
- Auto-charge: Set it to charge automatically when the balance gets low.
- Check History: See exactly where you spent money.
- Apply for Deductions: Register for the tax benefits.
Transferring Between Cards
If you move or work in different cities, you can have multiple cards in one app. You can hold a Suwon card and a Hwaseong card simultaneously and manage them from the same dashboard.
A Note on Limitations
While I love this card, there are a few things to keep in mind:
- Maximum Limit: In Hwaseong, the maximum amount you can charge and get incentives on is usually 1 million won per month (this can vary by city).
- Exclusions: You cannot use it for gas stations or entertainment venues like gambling spots.
- Foreigner Name Issues:As mentioned, the app can be tricky for foreigners if your name is long or formatted differently on your phone plan versus your bank account. If you frequently struggle with online identity verification, you are not alone struggle with online identity verification, you are not alone.
Conclusion
The Gyeonggi Local Currency Card is one of the smartest financial tools you can use while living in Korea. It effectively gives you a 6-10% discount on almost everything you buy locally.
It helps the neighborhood economy, gives you tax benefits, and puts free money in your pocket. Please try to make a card, help your neighborhood, and also help yourself.
Have you used a local currency card in Korea? What has your experience been like? Let me know.
Suggested External Links (DoFollow):
- Gyeonggi Local Currency Official Site:gmoney.or.kr
- Best for: General announcements, policy updates, and downloading the main app.
- Find Where to Use (Merchant Search):search.konacard.co.kr
- Best for: Searching specifically for shops, restaurants, and hospitals that accept the card in your city (Hwaseong, Suwon, etc.).
- Cashbee (For Child Registration):cashbee.co.kr
- Best for: Registering a card for children (ages 6–13) so they can use it as a transportation card with youth discounts.
- Gyeonggi Bus Information System (BIS):gbis.go.kr
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