Eunpyeong Sarang Gift Certificates Sold Out Early at 7 Billion Won... Additional Issuance of 2 Billion Won

Additional Issuance of 2 Billion KRW Starts on the 20th, 6 Billion KRW More Planned for Early July... 10% Purchase Discount Rate Continues to Boost Local Economy

[Asia Economy Reporter Jongil Park] Eunpyeong-gu (Mayor Kim Mi-kyung) will issue an additional 2 billion KRW worth of Eunpyeong Love Gift Certificates on the 20th to support small business owners and revitalize the local economy.

Since issuing 5 billion KRW worth of Eunpyeong Love Gift Certificates (hereafter referred to as gift certificates) on January 17, 2020, an additional issuance of 10 billion KRW was decided to overcome the economic impact caused by COVID-19, aiming for a total issuance of 15 billion KRW.

The first additional issuance of 2 billion KRW was carried out on April 7, 2020, and the total 7 billion KRW issued so far, with a 15% purchase discount and the support of residents, was sold out early on April 9.

As many residents are waiting for the additional issuance of gift certificates, Eunpyeong-gu is hastening the second additional issuance, issuing an additional 2 billion KRW on May 20, with the remaining 6 billion KRW scheduled to be issued in early July.

The regular purchase discount rate for the gift certificates is 7%, but since many small business owners and self-employed individuals are facing difficulties due to COVID-19, Eunpyeong-gu is applying a 10% discount rate.

The Eunpyeong Love Gift Certificates can be used at over 8,800 Zero Pay affiliated stores within Eunpyeong-gu, and according to the government's amendment to the Restriction of Special Taxation Act, an 80% income deduction benefit is available for gift certificate usage amounts from April to July, which is expected to greatly help not only small business owners but also residents' household finances.

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