Naju City and Korea Minting and Security Printing Corporation Sign Business Agreement on Naju Sarang Card Gift Certificates

[Asia Economy Honam Reporting Headquarters Reporter Lee Han-hyuk] Naju City, Jeollanam-do (Mayor Kang In-gyu) announced on the 1st that it signed a "Business Agreement for the Issuance of Naju Sarang Card Gift Certificates" with Korea Minting and Security Printing Corporation (President Jo Yong-man) at the City Hall Ihwa Room on the 29th of last month.

With this, the city became the first local government to issue card gift certificates through Korea Minting and Security Printing Corporation.

The Naju Sarang Card Gift Certificates are scheduled to be first issued in mid-next month with a scale of 10 billion KRW.

The city and the Mint agreed to actively cooperate on ▲service improvements to enhance the reliability and security of the Naju Sarang Card Gift Certificates ▲application of new technologies and promotion to revitalize card gift certificates ▲and system establishment for the convenience of citizens and local businesses.

The card gift certificates are expected to prevent fraudulent distribution of gift certificates, which has been pointed out as a drawback of existing paper gift certificates, as well as reduce issuance costs, sales, and exchange fees.

Through compatibility with the integrated computer system for paper gift certificates currently operated by Korea Minting and Security Printing Corporation, individual limit management is also possible.

In particular, users’ convenience is greatly improved as they can check card issuance, charging, usage history, and balance in real time through a smartphone app (APP) without visiting financial institutions (sales agencies).

The city expects that the usage rate will significantly increase among public institution employees, office workers, and young people, who relatively prefer paper gift certificates less.

Mayor Kang In-gyu said, “As payment methods mainly consisting of cash and general cards are replaced by gift certificates, it is revitalizing the local small businesses exhausted by the prolonged COVID-19 pandemic,” and added, “We thank Korea Minting and Security Printing Corporation for cooperating in the issuance of the Naju Sarang Card Gift Certificates, which will help activate the use of gift certificates.”

Meanwhile, the city decided to extend the 10% special discount on Naju Sarang Gift Certificates, which was temporarily applied from March to last month, until September.

Along with the extension of the special discount period, the city plans to issue an additional 18 billion KRW worth of gift certificates.

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