Gwanak Love Gift Certificate Sales Increase Approximately 7 Times · 1,102 Affiliate Stores Increase

Increasing Consumer Benefits and Promoting Gift Certificate Usage to Boost Local Community Consumption Effects

[Asia Economy Reporter Jong-il Park] The sales of Gwanak-gu’s (Mayor Park Jun-hee) mobile local currency, ‘Gwanak Sarang Gift Certificate,’ have increased approximately sevenfold since the COVID-19 pandemic.

During the same period, the number of affiliated stores accepting the gift certificates increased by 1,102, from 7,025 to 8,127, broadening consumer choices.

The district announced that from January 15 to March 22 this year, about 86.637 million KRW worth of gift certificates were sold over roughly two months, whereas from March 23 to April 20, when discount benefits were expanded due to COVID-19, nearly seven times that amount?564.706 million KRW worth of gift certificates?were sold.

This is the result of Gwanak-gu’s multifaceted efforts over the past month to revitalize the local economy, which has been depressed by COVID-19, and to support small business owners facing livelihood difficulties by expanding consumer benefits and strengthening promotions for the Gwanak Sarang Gift Certificate.

First, the district increased consumer benefits during gift certificate sales and payments to encourage prompt consumption. The monthly discount purchase limit per person, previously capped at 500,000 KRW, was doubled to 1,000,000 KRW.

Additionally, from March 23 to April 7, the purchase discount rate was raised from 10% to 15%, and a cashback event was held where 5% of the payment amount was accumulated and returned in cash when paying with the gift certificate.

A lucky event is also ongoing until September, where consumers who pay 10,000 KRW or more with the gift certificate are randomly drawn to receive prizes worth a total of 3.5 million KRW per session, with 50 winners each week.

Meanwhile, Mayor Park Jun-hee has been donating 30% of his salary since last month to purchase Gwanak Sarang Gift Certificates and traditional market gift certificates, which are then used to buy goods for underprivileged neighbors. District office employees have also contributed by purchasing about 262 million KRW worth of Gwanak Sarang Gift Certificates using welfare points.

Promotion efforts to encourage consumer use of the gift certificates have also been strengthened. Promotional materials were distributed to residents visiting local community centers, with direct guidance on app registration and payment methods to help residents use the gift certificates more easily and conveniently.

Furthermore, dedicated promotional staff visit small stores to encourage them to join as affiliated stores, explaining app installation and usage directly to support store owners’ convenient use. District office employees have also actively distributed leaflets by visiting about 4,000 stores in person.

Through a supplementary budget proposal submitted to the district council on the 9th of this month, the district plans to issue an additional 5 billion KRW worth of Gwanak Sarang Gift Certificates, allocate an extra 3.5 billion KRW to the Small and Medium Enterprise Development Fund, and urgently create 205 public jobs including promotional personnel for the gift certificates to support COVID-19 affected residents. The district will make every effort to increase small business sales and stimulate local consumption.

Gwanak-gu first issued the mobile local currency ‘Gwanak Sarang Gift Certificate,’ linked with Zero Pay, on January 15 this year with a scale of 10 billion KRW. After 100 days, about 6.51 billion KRW of the issued 10 billion KRW has been sold, contributing to the actual sales increase of small business owners and revitalization of consumption.

Mayor Park Jun-hee said, “I hope the activation of the Gwanak Sarang Gift Certificate, which offers small business owners zero payment fees and consumers a 10% discount and income deduction benefits, will breathe new life into the local economy. We will continue to actively discover various policies to help small business owners struggling due to COVID-19.”

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