PAJU — The city of Paju in Gyeonggi Province has settled on "Paju Plus" as the official name of its local shared-growth commerce platform, a project designed to widen sales channels for small business owners and farmers while expanding benefits for residents. Set to begin full service in April, Paju Plus aims to cut the heavy fees charged by private platforms and build a digital ecosystem linked to the city's local currency, creating a virtuous cycle in the local economy.
The city announced the integrated online platform plan on the 21st. The name reflects the city's intent to add enjoyable benefits to residents' daily lives and strengthen the local economy's capacity to sustain itself. The platform will run on two pillars: a shared-growth mall for quality goods and services, and a community space for residents to communicate.
The brand concept is built around what the city calls an "arithmetic universe" using the four basic operations. Addition stands for a community that residents take part in; subtraction for easing the burden on small business owners, farmers and households; multiplication for greater benefits based on app activity; and division for returning created value to the community. Residents accumulate benefits through app activity, which in turn feeds consumption of local products.
The city plans to cut platform fees to the lowest level in the industry to help small business owners stand on their own. Details will be finalized after consultations with relevant agencies. The city is also pushing to link payments with Paju Pay, the local currency, so that spending within the app flows directly into neighborhood commerce. Revenue generated from running the platform will likewise be returned to residents in the form of accumulated points and discounts.
"Paju Plus will be more than an online shopping mall. It will be a platform woven into daily life, one that residents log into every day to communicate with neighbors and enjoy benefits," Paju Mayor Son Bae-chan said. "We will build a virtuous ecosystem in which residents and businesses grow together."
With the name now set, Paju is accelerating work on the system and plans to launch the service officially in April after finalizing detailed operating standards.