10% Discount 'Gwanak Sarang Gift Certificate' Additional Issuance of 6.5 Billion Won

Maintaining a Special 10% Discount by Adding District Budget to the Regular 7% Discount... Weekly Lucky Events and Receipt Prize Draws, Plus Up to 80% Income Tax Deduction Benefits for Year-End Tax Settlement

[Asia Economy Reporter Park Jong-il] Gwanak-gu (Mayor Park Jun-hee) will issue an additional 6.5 billion KRW worth of Gwanak Love Gift Certificates starting from 10 a.m. on the 13th to revitalize the local economy, which has been depressed due to the novel coronavirus infection (COVID-19).

This is the third issuance following the first issuance of 10 billion KRW in January and the second issuance of 1.5 billion KRW in May, bringing the total issuance amount in Gwanak-gu to 18 billion KRW.

Although the regular discount rate is 7%, the district is maintaining a special 10% discount on the entire additional issuance by supplementing with its own budget. This is to inject vitality into the local economy, which has been stagnant due to the prolonged COVID-19 pandemic.

A lucky event will be continuously held until October, where consumers who pay with gift certificates worth 10,000 KRW or more will be randomly drawn to receive prizes worth approximately 3.5 million KRW per session every week.

Additionally, during the additional issuance period from July 21 to August 17, a new receipt prize event called "Jalsani? Season 1" will be held. By submitting receipts of payments of 3,000 KRW or more made via Zero Pay or Seoul Love Gift Certificates on the Seoul city website, participants will be entered into a draw to win various prizes such as laptops and vacuum cleaners.

Payments made by July 31 are also eligible for up to 80% income tax deduction during year-end tax settlement.

This is intended to encourage rapid consumption promotion by providing benefits not only when purchasing the gift certificates but also when using them for payments.

The Gwanak Love Gift Certificates are issued in three mobile denominations of 10,000 KRW, 50,000 KRW, and 100,000 KRW, and can be used at Zero Pay affiliated stores within Gwanak-gu.

To facilitate smooth use of the gift certificates, the district operates dedicated promotional staff and has increased the number of affiliated stores from 8,601 as of the end of April to 10,171 as of July 10, expanding consumer choices by 1,570 stores. The number of usable apps has also increased from 9 to 13.

For more details, please check the Zero Pay mobile gift certificate website.

Starting August 1, the monthly purchase limit per person will be reduced from 1 million KRW to 700,000 KRW, and consumer refunds will change from full refund after using 60% or more to full refund after using 80% or more, effective for certificates issued from June 20.

Mayor Park Jun-hee said, “We aim to economically support small business owners and consumers in overcoming COVID-19 by maintaining the 10% special discount on Gwanak Love Gift Certificates,” and added, “We will continue to strive to help the depressed local economy regain vitality.”

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