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Korea to Allow Card Points Conversion to Local Currency
Starting May next year, credit card users in Korea will be able to convert their dormant reward points into regional cash vouchers (local currency) usable at traditional markets and neighborhood shops, the government announced Friday. The plan, reported at a state policy coordination meeting chaired by Prime Minister Han Sung-sook, aims to boost consumption and revitalize local economies. Unused credit card points total 2.1 trillion won, and users can convert any desired amount for use starting the next day, with plans to later expand the service to public and private sector points. Yonhap reports the move is part of efforts to breathe vitality into local commercial districts, while the Korea Times notes it is designed to boost consumption. The Chosun Ilbo adds that the service will first launch with card points before broadening to other point types.


















