Seoul Gangseo Sarang Gift Certificate Launch

Published 01 Apr.2020 08:20(KST)

15% Discount Until Seoul City's Total Issuance of 50 Billion Won is Exhausted... Usable at Approximately 8,000 ZeroPay Merchants in the Region

Seoul Gangseo Sarang Gift Certificate Launch

[Asia Economy Reporter Jongil Park] Gangseo-gu, Seoul (Mayor Noh Hyun-song) announced that starting April 1, it will issue the ‘Seoul Gangseo Love Gift Certificate’ as a measure to support the local economy and overcome the damage caused by COVID-19.

The Gangseo Love Gift Certificate can be purchased at a 15% discounted price (up to 1 million KRW per person per month) until the total issuance amount of 50 billion KRW by Seoul City is exhausted.

Additionally, 5% of the payment amount will be returned as cashback, providing a total discount benefit of 20%. This means that when purchasing a 10,000 KRW gift certificate, you can save 2,000 KRW.

The gift certificates can be purchased and used for payment by anyone through a smartphone mobile app.

The dedicated apps for the gift certificates are ▲Cocoon CheckPay ▲Beeple ZeroPay ▲MoneyTree ▲NongHyup AllOne Bank ▲Gyeongnam Bank BNK ▲Busan Bank SumBank ▲Daegu Bank IM Shop ▲Gwangju Bank Personal Banking ▲Jeonbuk Bank New Smart Banking. However, the 5% cashback event is only available through Cocoon CheckPay, Beeple ZeroPay, and MoneyTree apps.

Payments can be made by scanning the QR code of a ZeroPay affiliated store using a smartphone simple payment app, then entering the amount, or by presenting the QR code generated on the smartphone to the store, where the store’s reader scans the QR code.

Eligible stores include about 8,000 ZeroPay affiliated businesses located in Gangseo-gu, such as restaurants, beauty salons, pharmacies, and convenience stores. However, the gift certificates can only be used at ZeroPay affiliated stores within the district and cannot be used at large supermarkets like E-mart and Lotte Mart or in luxury and entertainment industries, in line with the purpose of supporting small business owners.

In particular, residents using the gift certificates receive a 30% income deduction benefit at year-end tax settlement (60% from March to June), and affiliated stores have no merchant fees linked with ZeroPay and also receive tax benefits for small business owners, making it highly attractive.

A district official said, “We have provided various benefits to users of the gift certificates to stimulate consumption that has been depressed due to COVID-19,” and added, “We hope this project will contribute to increasing sales of small business owners in the region and revitalize the local economy.”