Hampyeong-gun Accelerates Efforts to Revitalize Economic Downturn Due to COVID-19 Impact

Special Discount Sale on Local Currency

[Asia Economy Honam Reporting Headquarters, Reporter Yoon Jamin] Hampyeong-gun, Jeollanam-do (Acting County Governor Na Yunsu) is launching a special discount sale of local currency to revitalize the local economy, which has fallen into a slump due to the spread of COVID-19.

Hampyeong-gun announced on the 11th that from the 16th of this month to the 14th of next month, the purchase discount rate for the local currency, Hampyeong Sarang Gift Certificates, will be raised from the existing 5% to 10%.

This decision was made in response to the nationwide continued spread of COVID-19, which has sharply reduced local consumption and worsened the management difficulties of small business owners such as self-employed people.

Accordingly, starting from the 16th of this month, 13 branches of local financial institutions including agricultural and livestock cooperatives will simultaneously begin the special discount sale of Hampyeong Sarang Gift Certificates.

To prevent illegal distribution due to the increased discount rate, continuous monitoring of sales and redemption will also be implemented.

The monthly purchase limit per individual will also be restricted to 700,000 KRW during this period.

Na Yunsu, Acting County Governor of Hampyeong-gun, said, “Along with this special discount sale, the public benefit allowance for farmers and fishermen, which was originally scheduled to be paid separately in the first and second halves of this year, will be paid in a lump sum before June.” He added, “We ask for the interest and use of all residents in the Hampyeong Sarang Gift Certificates, which help revitalize the local economy and neighborhood markets.”

Meanwhile, to activate the local commercial district and prevent capital outflow, the Hampyeong Sarang Gift Certificates (10,000 KRW and 50,000 KRW denominations), first issued in 2011, have been issued and circulated in a total amount exceeding 29.8 billion KRW to date. Contracts have been signed with 627 affiliated businesses within the jurisdiction, including Hampyeong Traditional Market, local marts, restaurants, convenience stores, and gas stations.

This content was produced with the assistance of AI translation services.