How will users convert credit card reward points into regional cash vouchers?

Starting in May, users can check their point balances through account info or regional currency apps and request conversion of as many points as they want. The converted local currency will be available to use the following day.

Why is the government allowing dormant credit card points to be converted into local currency?

President Lee Jae Myung instructed officials to make dormant points usable as local currency to boost consumer vitality and support traditional markets and neighborhood shops. Minister Lim Ki-keun said the policy is also intended to ease household financial burdens and direct money toward small businesses.

What other reward points could be converted after the credit card points service begins?

Officials said credit card points will be the first eligible points because systems for converting them into cash are already established. They plan to work with relevant agencies to expand the service to KTX rail miles and other points.

Conversion of credit card points to cash vouchers to be allowed starting May

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Summary

The government will allow credit card users to convert dormant reward points into regional cash vouchers starting next May to support consumption and local economies. The Office for Government Policy Coordination worked with the interior ministry, the Financial Services Commission and the Korea Financial Telecommunications and Clearings Institute to develop the service. Users will be able to check their points through designated apps and request conversion into local currencies. Officials plan to expand the service to KTX rail miles and other points.

Key Facts

Accumulated credit card points total 2.1 trillion won, or $1.57 billion.
Users can request conversion of any amount of points, and the resulting local currency can be used starting the following day.
President Lee Jae Myung instructed officials in late June to enable conversion of dormant points into local currency.
Government Policy Coordination Minister Lim Ki-keun said the effort aims to ease household financial burdens and channel spending to small businesses in traditional markets and local commercial districts.

By Yonhap

Published Nov 13, 2026 12:46 pm KST

Tourists shop at a duty-free store in downtown Seoul, Oct. 5. Yonhap

Credit card users will be able to convert their dormant reward points into regional cash vouchers starting May next year, officials said Friday, as part of efforts to boost consumption and breathe vitality into local economies,

The government announced the measure after President Lee Jae Myung instructed officials in late June to allow the conversion of "various hidden or dormant points into local currency to boost consumer vitality and revitalize traditional markets and neighborhood shops," officials said.

The Office for Government Policy Coordination under the prime minister's office has since worked with the interior ministry, the Financial Services Commission and the Korea Financial Telecommunications and Clearings Institute to come up with details, officials said.

Credit card points will be the first to be allowed for the conversion.

Accumulated card points amount to 2.1 trillion won ($1.57 billion) and such points already have well-established systems for conversion into cash, officials said.

Once the conversion service begins in May, card users can use "account info" or "regional currency" apps to see how many points they have and ask for the conversion of as many points as they want into local currencies that they can use starting the following day.

Officials said they plan to work with relevant agencies to expand the service to KTX rail miles and other points.

"We will continue discussions to have various dormant points used more so that financial burdens on households are eased and money is channeled toward small business owners in traditional markets and local commercial districts, ultimately breathing new vitality into regional economies," Government Policy Coordination Minister Lim Ki-keun said.

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