Seoul Mayor Park Won-soon’s 'Seoul Sarang Gift Certificate' Hits Big... Additional Issuance?

15% Discount and 5% Cashback Result in 25% Off Seoul Sarang Gift Certificates; 50 Billion Won Sold Out in 10 Days, Huge Popularity... Praised as Best Measure to Refill Seoul Citizens' Wallets Amid COVID-19 Crisis... Future Additional Issuance by Seoul City Draws Attention

[Asia Economy Reporter Jong-il Park] “I was so happy that I could use the Seoul Sarang Gift Certificate even for my child's academy fees.”

This is what a parent of an elementary school student named Kim from a district in Seoul recently told a reporter.

The ‘Seoul Sarang Gift Certificate,’ prepared by the Seoul Metropolitan Government to fill the pockets of ordinary citizens who have become tight after the COVID-19 crisis, is making headlines as a huge hit.

Since March 23, Seoul has been selling the ‘Seoul Sarang Gift Certificate’ at a 15% discount, and by April 1, just ten days later, 50 billion KRW worth was completely sold out.

Seoul announced that it would extend the additional 15% discount up to 80 billion KRW to revive the frozen local economy and consumer sentiment due to COVID-19.

In particular, the usage of the gift certificates has been expanded from the original 17 districts to all 25 districts within this month.

The Seoul Sarang Gift Certificate is a mobile gift certificate issued by each Seoul district to increase local consumption and boost sales for small business owners, and it can be used at Zero Pay affiliated stores.

Accordingly, it can be used at convenience stores, coffee shops, traditional markets, academies, and more. Individuals can purchase up to 1 million KRW, and with a 15% discount plus a 5% cashback, a total of 20% discount makes it very popular.

Mr. Lee, a resident of Seongdong-gu, said, “I bought 1 million KRW worth of Seongdong Sarang Gift Certificates for 850,000 KRW, and if I use them all, I can get 50,000 KRW back as cashback, so it’s like buying 1 million KRW worth of gift certificates for 800,000 KRW. In times like these, a 20% discount is huge,” boasting.

Songpa-gu (Mayor Park Seong-su) announced on the 10th that the ‘Songpa Sarang Gift Certificate’ was sold out on the afternoon of the 8th.

Songpa-gu issued 10 billion KRW worth of Songpa Sarang Gift Certificates on April 1 to revitalize the local economy weakened by the COVID-19 crisis, and all were sold out within eight days.

The ‘Songpa Sarang Gift Certificate’ is a mobile gift certificate that can be used to purchase goods at about 9,000 Zero Pay affiliated stores in Songpa-gu by scanning a QR code.

Park Seong-su, Mayor of Songpa District, visits a local flower shop and observes the payment demonstration after purchasing flowers with Songpa Love Gift Certificates.

As of April 8, the following amounts of Seoul Sarang Gift Certificates have been issued: Jongno-gu 20 billion KRW, Jung-gu 10 billion KRW, Yongsan-gu 3 billion KRW (scheduled for issuance on April 24), Seongdong-gu 5 billion KRW, Gwangjin-gu 5 billion KRW, Dongdaemun-gu 5 billion KRW, Jungnang-gu 10 billion KRW, Seongbuk-gu 5 billion KRW, Gangbuk-gu 3 billion KRW, Dobong-gu 5 billion KRW, Nowon-gu 5 billion KRW, Eunpyeong-gu 7 billion KRW, Seodaemun-gu 7 billion KRW, Mapo-gu 9.5 billion KRW, Yangcheon-gu 7.5 billion KRW, Gangseo-gu 5 billion KRW, Geumcheon-gu 3 billion KRW, Yeongdeungpo-gu 20 billion KRW, Dongjak-gu 5 billion KRW, Gwanak-gu 10 billion KRW, Seocho-gu 5 billion KRW, Gangnam-gu 20 billion KRW (scheduled for issuance on April 24), Songpa-gu 10 billion KRW, and Gangdong-gu 10 billion KRW, totaling 200 billion KRW worth of Seoul Sarang Gift Certificates.

With the Seoul Sarang Gift Certificate becoming a huge hit like this, Mayor Park Won-soon’s popularity is expected to rise.

This is because the Seoul Metropolitan Government has borne a 7% fee burden, reducing the burden on the districts to 3%.

An official from a Seoul district said, “Mayor Park Won-soon is working hard fighting against COVID-19, and among his policies, I think the Seoul Sarang Gift Certificate will be the most popular.”

Accordingly, attention is focused on whether the Seoul Metropolitan Government will persuade the Seoul Metropolitan Council to issue additional Seoul Sarang Gift Certificates, as Seoul citizens have great interest in them.

Mayor Park Won-soon is also expected to respond by issuing additional Seoul Sarang Gift Certificates to help fill the pockets of citizens in difficulty, reflecting the demands of the people.

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