The Seoul City Government announced on Tuesday that it will launch a trial run of its “Seoul Time Bank” from next Monday.

Time banking, first introduced in the U.S., is a system of bartering for various services using labor-time as a unit of exchange rather than money.

If a time bank user provides help to another user, “Timepay” credit will be added to the helper's account which can be redeemed for services from other members.

Any Seoul resident aged 14 and older is eligible to use the time bank service, which will open for a trial run at Kookmin University, Seoul City Hall and two other locations in Seoul.

The Seoul government said citizens will be able to help each other using the timepay system for almost every aspect of a daily routine, including housing repairs, car pools and walking dogs.