Daegu has decided not to make an additional issue of its local currency, DaeguroPay, this year, citing the city's financial conditions. The decision comes after issuance had already been suspended for several months.
Kyunghyang Shinmun reports that the central government had indicated budget support was available, but Daegu did not take up the offer. The local Democratic Party criticized the decision, arguing that the city was giving up a roughly 100 billion won-scale measure aimed at household spending.
What it means
The dispute now centers on budget priorities and the role local currency should play in supporting consumption. The city has cited fiscal constraints, while critics argue that available national support reduced the local cost of another issuance.