South Korea's Ministry of Knowledge Economy Aug. 26 announced a new consumer-oriented initiative to change the public's retail habits in favor of buying more energy-efficient products. South Korea's "carbon cashbag" program will offer cash equivalent loyalty incentives for buyers of certain climate-friendly electronics items. The program will be launched in October in a partnership with OK Cashbag, South Korea's first and largest customer loyalty program, operated by the SK Telecom and SK Energy. Currently, some 30 million OK Cashbag members earn cash reward points on credit-card and cash purchases at online and offline stores and service outlets. The cash-for-carbon program will provide supplier-funded cash rebates to buyers of certified energy-efficient and low-carbon consumer electronics products. The rebates will be credited to buyers' OK Cash-bag accounts and can be used to pay utility bills and purchase other low-carbon products.
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