Gyeongbuk Gimcheon-si, Local Love Gift Certificates Popular ... "Issuance Scale Expanded to 60 Billion Won"

So far, 38.6 Billion Issued, 92% Sold Out

Kim Choong-seop, mayor of Gimcheon, promoting the local love gift certificate.

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Dong-wook] The Gimcheon Love Gift Certificate, issued on August 1 last year, and the Gimcheon Love Card, launched on April 27 this year, are receiving great love from citizens to revitalize the Gimcheon economy, increase sales of self-employed business owners, and activate neighborhood commercial districts.

Gimcheon City in Gyeongbuk announced on the 23rd that the local love gift certificates and cards issued to increase sales of local self-employed businesses and activate neighborhood commercial districts are receiving great love from citizens and are effectively stimulating consumption.

The Gimcheon Love Gift Certificate, issued on August 1 last year, and the Gimcheon Love Card, launched on April 27 this year, are receiving great love from citizens.

As of the 20th, out of a total of 38.6 billion KRW issued, including 33 billion KRW in paper-type gift certificates (first introduced on August 1 last year) and 5.6 billion KRW in card-type gift certificates (launched on April 27 this year), 92% equivalent to 35.6 billion KRW (about 30 billion KRW in paper type and about 5.6 billion KRW in card type) have been sold.

These gift certificates can be used in various businesses within the jurisdiction, such as restaurants, gas stations, supermarkets, beauty salons, and traditional markets, excluding large-scale stores (Gimcheon Nonghyup Hanaro Mart, E-Mart, Lotte Mart) and entertainment bars.

Analysis of Gimcheon Love Card usage from the end of April to the end of June showed that most citizens used it for purchasing daily necessities and meeting basic needs. The restaurant industry accounted for the largest share at 31.4% of total usage, followed by supermarkets and convenience stores at 17.6%. Next were gas stations (9.1%), agricultural and livestock cooperative direct sales outlets (8%), hospitals and pharmacies (7.9%), academies (3.2%), and others (22.8%).

Gimcheon Mayor Kim Chung-seop said, "I think the Gimcheon Love Gift Certificate (Card) is playing its role well in the local economy, which has been stagnant due to COVID-19, and I find it meaningful," adding, "We will focus administrative efforts on continuously promoting the use of the Gimcheon Love Card and expanding the issuance scale to 60 billion KRW in the future."

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