Credit card points can be converted to local currency... Prime Minister of Korea "Vitalizing alley commercial districts" (comprehensive)

In the future, you will be able to exchange credit card points for local currency.

On the 13th, the government reported the 'Plan to promote conversion of unused points into local currency' at the '17th National Policy Coordination Meeting' held at the Seoul Government Complex under the chairmanship of Prime Minister Han Seong-sook.

The promotion of this policy follows President Lee Jae-myung's order at the cabinet meeting last June to 'convert various hidden points into local currency to increase consumption vitality and revitalize traditional markets and alley commercial districts.'

Accordingly, the government has decided to promote the conversion of card points, which have a cumulative balance of 2.1 trillion won and a well-established cash conversion system, and the service is scheduled to open in May 2027 after a preparation process.

Once the service starts, consumers can check the points of their card through the Korea Financial Telecommunications and Clearings & Clearings Institute's 'Account Info' (integrated account information management system) or 'Local Currency App' and then apply for conversion to local currency for the desired amount, and they will be able to use it from the next day.

To this end, the government plans to use 'Account Info' as a relay system to link computing between multiple credit card companies and local currency operating agencies.

In the future, the government plans to promote consultation with related organizations to enable the conversion of points operated by public institutions, such as KTX mileage and carbon neutral points, into local currency. We plan to continue to encourage voluntary participation from private industries such as distribution and aviation in this process.

Prime Minister Han promised at the meeting, "We will do our best to expand participation to various points in the public and private sectors to increase the consumption power of the people and revitalize local small business districts."

At the meeting on this day, ‘plans to promote an integrated elementary care brand’ were also discussed.

Accordingly, the government will improve government 24's 'Whole Neighborhood Care' integrated window so that people can search for necessary services, apply, and check results all at once.

In addition, the documents required to apply for the service will be simplified and care information will be provided through the interactive public service 'AI National Secretary'.

Prime Minister Han promised, "We will first start integrated services starting in December. If you let us know of any inconveniences or areas that require improvement, we will actively reflect these in the integrated system and develop them into more convenient services."

At the meeting, a government-wide joint response plan for the international aviation safety assessment, which will be held in December, was also discussed.

Starting this month, the government-wide joint response team will be converted into an inspection and inspection team to conduct a final inspection of on-site preparations and intensively supplement any necessary matters.

Prime Minister Han said, "It is important to obtain good results in the evaluation, but we must use this (assessment) as an opportunity to inspect the safety of the people as a top priority. I hope you will do your best to establish an aviation safety system that meets international standards, from systems and personnel to operations, accident investigation and follow-up measures."

At the meeting, the results of the selection of excellent proposals from the public contest for regulatory rationalization were also reported.

‘Allowing preemptive action and post-reporting to quickly protect national heritage in the event of a disaster’ was ranked first. The grand prize winners were ‘Establishment of a new right to request viewing and preservation of CCTV data’ and ‘Clarification of the procedure for reporting the move-in of parents of minors.’