10% Discount Until 1 Billion KRW of Yangcheon Sarang Gift Certificates Are Sold Out

Published 31 Jan.2020 07:06(KST)

Available at approximately 6,000 ZeroPay affiliated stores

10% Discount Until 1 Billion KRW of Yangcheon Sarang Gift Certificates Are Sold Out

[Asia Economy Reporter Jongil Park] Yangcheon-gu (Mayor Kim Soo-young) issues the ‘Yangcheon Love Gift Certificate’ linked with Zero Pay, offering a 10% discount on the purchase amount until 1 billion KRW is exhausted.

The district issues the Yangcheon Love Gift Certificate to expand local consumption and increase sales for small business owners. The gift certificates can be used at approximately 6,000 Zero Pay affiliated stores within Yangcheon-gu.

There are benefits for both small business owners and consumers when using the gift certificates. Regardless of annual sales, affiliated stores are exempt from payment fees on gift certificate transactions, receiving tax benefits.

Additionally, consumers receive a discount at purchase and can apply a 30% income deduction after use.

The purchase discount rate is 10% until 1 billion KRW is exhausted, after which a permanent 7% discount rate applies. Currently, a 500,000 KRW gift certificate can be purchased for 450,000 KRW.

Anyone can purchase up to 500,000 KRW per month per person of the Yangcheon Love Gift Certificate, available in three denominations: 10,000 KRW, 50,000 KRW, and 100,000 KRW.

The gift certificates can be purchased through the Zero Pay system within existing bank apps and pay apps. They can be bought and paid for via CheckPay, Beeple Zero Pay, MoneyTree, Nonghyup All One Bank, and five other apps.

Gift certificates purchased through the apps are issued in mobile form and can be used immediately at Zero Pay affiliated stores. Users can present the QR code generated within the purchased app to the clerk or scan the QR code displayed at the store to use the certificate.

A Yangcheon-gu official stated, “By expanding Zero Pay affiliated stores, we hope residents can use various local shops more easily, contributing to revitalizing the local economy and providing practical help to small business owners.”