Jeju High Oil Price Relief Payments: Local Currency Chosen at Twice the National Average

First Round Payment Rate Reaches 74%
Small Merchants Prefer Lower Fees and Benefits
Relief Payments Delivered Directly to 423 Disadvantaged Residents with Mobility Difficulties

The first round of high oil price relief payments in Jeju is progressing smoothly, with more than half of recipients choosing the local currency 'Tamna Jeon.' This resulted in a usage rate more than twice the national average, providing tangible revitalization to the struggling local commercial districts.

Jeju Special Self-Governing Province Government Building.

According to the Jeju Special Self-Governing Province, as of May 3, 33,224 out of 44,849 first-round recipients, or 74.1%, had received a total of 19.6 billion won in relief payments. The notable point is the proportion of people selecting the local currency. Of those who received the payments, 53.1% chose Tamna Jeon, which is significantly higher than the national average of 23.8%. This demonstrates that Jeju residents have much greater trust in their local currency compared to other regions.

Tamna Jeon applies a lower transaction fee (0.15–1.15%) than credit cards (0.40–1.45%), helping to reduce the business burden on small merchants. In particular, starting in May, the payment locations have been temporarily expanded to include 116 gasoline stations and LPG filling stations with annual sales over 3 billion won, greatly improving convenience for residents.

For disadvantaged groups with mobility difficulties, the province has provided a 'visiting application service,' directly delivering relief payments to 423 people so far. From May 4, when the day-of-the-week system is lifted, until the first-round deadline of May 8, administrative efforts will be further strengthened to increase support for on-site applications so that all eligible recipients can benefit.

This content was produced with the assistance of AI translation services.