On the 19th, Han Dong-hoon, former head of the People Power Party, wrote on Fei Book, "Candidate Lee Jae-myung
"The essence of local currency is to issue 10% discount coupons that can only be used in specific regions and at specific retailers using the taxes paid by all citizens."
However, he explained that if only some local governments issue local currencies and offer discount benefits, sales in those local governments will increase, but sales at retail stores in surrounding local governments will decrease.
"As a result, almost all local governments, including Seoul, have issued local currencies with government subsidies, with the goal of stimulating consumption within the region.
Han added, "The only effect of the local currency that remains is the discounts. In that case, it is not much different from online gift certificates that can be used in traditional markets and alley shopping areas.
Therefore, if we expand the use of Onnuri gift certificates to include the same places where local currencies are used as local currencies instead of local currencies, we can reduce the costs of operating two systems."
He continued, "According to the results of research by economic experts, there is no evidence that the discount benefits offered by local currencies have increased sales at retail businesses where local currencies are used."
"Only in certain industries have sales increases been confirmed," he added. Onnuri gift certificates are more effective than local currencies and are cheaper to issue, so why is Lee Jae-myung continuing to push for local currencies?
Former Chairman Han argues that this is because local currency is Lee Jae-myung’s own “brand product.”
"(Gyeonggi Province) Basic income for young people and childbirth subsidies are already being offered as local currencies," he said. "The problem is that local currencies are being turned into cash," he said. "Local governments should
"We will have to spend even more money on cracking down on the practice of cashing out money from the government. This will lead to a vicious circle of inefficiency," he added.
"The essence of Lee Jae-myung's local currency theory is that it will be in your hands," he emphasized. Meanwhile, Rep. Han Byeong-do of the Democratic Party criticized former Chairman Han's post on Facebook on the same day.
"Why are they mocking local currency when there are a million businesses that have gone out of business?" the official said. "Local currency is more effective than discount coupons, and it is a policy tool that injects finances into local commercial areas in the quickest and most direct way."
He continued, "The reason why 191 of the 243 local governments nationwide still voluntarily issue local currencies is because both self-employed people and citizens have experienced the benefits."
Han said, "According to a 2022 study by the Ministry of the Interior and Safety, when the supply of local currency increases by 1% compared to the gross regional domestic product (GRDP), sales will increase by 8.3% and employment will increase by 2.1%."
"Ignoring these figures and citing examples of 'cashing out' to criticize the whole picture is nothing but a mockery of policies aimed at survival," he said.
He added, "The Yoon Seok-yeol administration plans to cut the entire local currency budget in 2024, while the Democratic Party of Korea will
"They secured a budget of 400 billion won (US$417 million) through last year's supplementary budget," he said, adding, "Do the Yoon Seok-yeol administration and People Power really care about the lives of self-employed people?"
Rep. Han asked, "What is Chairman Han doing?" and added, "Politics is not just about words, but about sincerity. I wonder if he will criticize the local currency after using it at least once, rather than mocking it."
I would like to hear it," he wrote.
2025/05/20 07:07 KST
Copyrights(C) Edaily wowkorea.jp 107