Haenam Sarang Gift Certificates, 10% Discount Starting from the 20th

Annual Sales of 4 Million Won per Individual Until 24 Billion Won is Exhausted

Haenam County will offer a 10% discount on Haenam Love Gift Certificates starting from the 20th to revitalize the local economy. (Photo by Haenam County)

[Asia Economy Honam Reporting Headquarters Reporter Kim Hyun] Haenam-gun, Jeollanam-do (Governor Myeong Hyun-gwan) announced on the 19th that it will offer a 10% discount on Haenam Love Gift Certificates starting from the 20th to revitalize the local economy, which has been depressed due to the prolonged COVID-19 pandemic.

The scale of this discount sale is 24 billion KRW, marking the second time following the 10% discount on 30 billion KRW conducted last March.

The discount period will last until the 24 billion KRW is exhausted, and the discount rate will be applied only to individuals up to an annual limit of 4 million KRW, excluding corporations and organizations.

To support the discount sale, the county secured 1.92 billion KRW in national funds, receiving 8% out of the 10% discount rate from the national government, minimizing the county's financial burden.

In particular, as of the 15th, 77 billion KRW worth of Haenam Love Gift Certificates have been sold this year, and it is expected that the entire issuance amount of 105 billion KRW will be sold out before the end of the year.

Accordingly, the county plans to issue an additional 10 billion KRW worth of gift certificates and will focus all efforts on establishing a virtuous cycle structure for the local economy and revitalizing the economy through the distribution of Haenam Love Gift Certificates.

Haenam Love Gift Certificates can be purchased at 35 financial institutions designated by Haenam-gun, including Nonghyup, Gwangju Bank, Haenam Credit Union, Woori Credit Union, Saemaeul Geumgo, Suhyup, and the Forestry Cooperative.

They can be conveniently used like cash at 3,304 affiliated stores located in Haenam-gun. If 80% or more of the face value is used at affiliated stores, the remaining balance is refunded in cash, and a cash receipt can be issued. However, to prevent the outflow of local funds to other regions, they cannot be used at businesses located outside the region or at entertainment establishments.

Additionally, with the enforcement of the "Act on the Promotion of Use of Local Love Gift Certificates" since the 2nd, stores illegally exchanging gift certificates may be fined up to 20 million KRW, and the county plans to actively crack down on illegal distribution.

A Haenam-gun official stated, "The 10% special discount event for Haenam Love Gift Certificates has been additionally implemented to recover the local economy hit by COVID-19," and added, "We ask for active participation in creating a consumption promotion atmosphere using gift certificates to revitalize the local economy."

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