Mujugun, Making Every Effort to Revitalize Local Gift Certificate Distribution
Mujugun is making every effort to distribute Mujusarang gift certificates to revive the local economy, which has been stagnated due to COVID-19. Photo by Mujugun Office
View original image[Asia Economy Honam Reporting Headquarters Reporter Go Dallyeong] Muju-gun is making every effort to distribute Muju Love Gift Certificates to revive the local economy, which has been stagnant due to COVID-19.
According to Muju-gun, the related ordinance was amended (promulgated on May 1) to adjust the purchase limit of Muju Love Gift Certificates, which was 500,000 KRW per month, to allow purchases up to 1,000,000 KRW until July, with a 10% discount applied at the time of purchase.
For card-type gift certificates, a payback event returning 5% of the previous month's card usage amount will also be held until July.
Incentives for usage in May will be credited in June, and those for July will be credited in August.
To alleviate the economic burden on small business owners (annual sales of 1 billion KRW or less based on card sales) due to the increase in card-type gift certificate usage, fees will also be supported starting this month.
The support will be carried out by consulting with the card-type gift certificate operator, and the fees corresponding to the approved amount of card-type gift certificates will either not be deducted by the card company and paid directly to the business, or paid directly on a monthly or quarterly basis.
Hot Picks Today
"Could I Also Receive 370 Billion Won?"... No Limit on 'Stock Manipulation Whistleblower Rewards' Starting the 26th
- Samsung Electronics Labor-Management Reach Agreement, General Strike Postponed... "Deficit-Business Unit Allocation Deferred for One Year"
- "Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "From a 70 Million Won Loss to a 350 Million Won Profit with Samsung and SK hynix"... 'Stock Jackpot' Grandfather Gains Attention
- "Who Is Visiting Japan These Days?" The Once-Crowded Tourist Spots Empty Out... What's Happening?
Lee Jeong, a manager of the Regional Economy Team at the Industrial Economy Division of Muju County Office, said, “Muju Love Gift Certificates have played a very important role in revitalizing the local economy, with 6 billion KRW issued and sold by the end of April (target of 20 billion KRW issued in 2020) and 5.4 billion KRW exchanged,” adding, “Since the monthly exchange limit of 10 million KRW has been removed until October, it will also be a great help to small business owners.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
