Additional Issuance of 3 Billion Won in 'Seongbuk Sarang Gift Certificates'
On the 14th at 10 AM, the 4th round of 'Seongbuk Sarang Gift Certificates' worth 3 billion KRW to be additionally issued... 7% discount rate, up to 1 million KRW purchase per person per month
[Asia Economy Reporter Jong-il Park] Seongbuk-gu (Mayor Lee Seung-ro) will issue additional mobile 'Seongbuk Love Gift Certificates' at a 7% discounted rate to promote consumption in the local alley markets, which have been depressed due to COVID-19.
The amount scheduled for issuance this time is 3 billion KRW, and sales will begin from 10 a.m. on the 14th through nine payment apps affiliated with the Korea Simple Payment Promotion Agency (including Beeple Zero Pay).
As the prolonged COVID-19 pandemic has continued to cause an economic downturn, emergency living expenses from Seoul City have also been issued as mobile gift certificates to support small business owners in the region.
The Seongbuk Love Gift Certificates issued in the first half of this year were quickly sold out due to residents' enthusiastic response, and the additional 2 billion KRW sold in May was completely sold out on the same day, leading to continued demands for further issuance from consumers.
As of July this year, there are 9,639 Zero Pay affiliated stores in Seongbuk-gu where mobile gift certificates can be used, with 1,023 new stores registered within two months after the third issuance of gift certificates in May.
Through the use of local love gift certificates, small business owners and self-employed individuals can benefit from reduced payment fees, and consumers can receive an 80% income deduction on payment amounts until July 31, receiving positive evaluations.
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Lee Seung-ro, Mayor of Seongbuk-gu, stated, “I hope that the additional issuance of Seongbuk Love Gift Certificates will help revitalize consumption in the alley markets weakened by COVID-19, and we will continuously discuss and prepare measures to revitalize the local economy.”
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