The Democratic Party of Korea is accelerating its promotion of local currencies, which is included in its 10 key policy pledges. At a meeting of the election countermeasures committee, it encouraged participation in the "local currency usage challenge."

Yun Ho-jung, the head of the Democratic Party of Korea (third from the right), speaks at the meeting of the Central Election Campaign Headquarters held at the Democratic Party office in Yeouido, Seoul, on Nov. 8. /Courtesy of News1

Han Byeong-do, Deputy Minister of National Participation, noted at a meeting of the general headquarters held at the party office on the morning of the 13th, "The National Participation Headquarters proposes a nationwide relay for the local currency usage challenge."

The Deputy Minister said, "The way to revive the crisis-stricken local economy is through local currencies" and added, "Local currencies are the most direct, effective, and proven way to invigorate small businesses. As candidate Lee Jae-myung mentioned, it's beneficial for the users, and it enables warm consumption that revitalizes the local economy."

He encouraged the local currency usage challenge. The local currency usage challenge will be conducted by posting verification photos and hashtags on social media after using local currencies, and nominating three people to participate in the challenge next.

The Deputy Minister said, "We will make the local currency activation and revitalization of small businesses the main theme of our campaign and spread the local currency usage challenge nationwide during the remaining 21 days of the election campaign," and pleaded, "For the campaign to be effective, the active participation of the public is essential."

He further urged, "In order to create a genuine South Korea, party members and campaign workers active across the nation, along with the citizens who participate, should use local currencies in small businesses before and after the election campaign and verify it on social media."

Regarding the government, he said, "On the 1st, the National Assembly passed a supplemental budget that included a budget of 400 billion won for local love gift certificates," and added, "The government should no longer delay and take swift action for execution."

Meanwhile, there are cautious arguments within the party that the economic situation should be examined considering tax increases. Jin Seong-jun, head of the central election committee's policy headquarters, elaborated during CBS Kim Hyun-jung's news show that while he believes "an immediate prescription to increase the public's consumption capacity is necessary, this issue should be assessed and determined after taking office."