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Korea to let card points convert to local currency
Starting May next year, credit card users in Korea will be able to convert unused reward points into regional cash vouchers, or local currency, to spend in traditional markets and neighborhood shops, the government announced Friday. Prime Minister Han Sung-sook reported the plan at the 17th National Policy Coordination Meeting, noting that accumulated unused card points total 2.1 trillion won. The service will allow users to convert points into local currency as needed and use them from the following day, according to Yonhap and Chosun Ilbo. The move aims to boost consumption and revitalize local commercial districts, with officials saying it will put 2.1 trillion won into wallets next year. Korean media coverage focuses on the policy's potential to stimulate spending in small businesses, with Maeil Business Newspaper highlighting the figure of 2.1 trillion won in dormant points.
- Conversion of credit card points to cash vouchers to be allowed starting May
- Conversion of credit card points to cash vouchers to be allowed starting May
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