Gangnam-gu Issues Additional 13 Billion Won in Gangnam Love Gift Certificates for Chuseok

At 10 AM on the 24th, 700,000 KRW per person monthly limit... 30% income deduction, anyone can purchase regardless of address

[Asia Economy Reporter Jongil Park] Gangnam-gu (District Mayor Jeong Soon-gyun) will issue an additional 13 billion KRW worth of Gangnam Love Gift Certificates starting at 10 a.m. on the 24th to boost sales for small business owners struggling due to COVID-19 and to revitalize the local economy during the Chuseok holiday.

The newly issued Gangnam Love Gift Certificates come in three denominations: 10,000 KRW, 50,000 KRW, and 100,000 KRW, and can be purchased at a discounted price within a monthly limit of 700,000 KRW per person.

Residents using the gift certificates will receive a 30% income deduction benefit. If more than 80% of the gift certificate's face value is used, the remaining balance can be refunded. Additionally, if consumers request a refund within 7 days without using the purchased gift certificates, they can receive a full refund.

The Gangnam Love Gift Certificates have been very popular, achieving early sell-outs after previous issuances of 20 billion KRW in April and 10 billion KRW in July.

The Gangnam Love Gift Certificates can be purchased by anyone regardless of their address through Zero Pay simple payment apps (Beeple Zero Pay, Check Pay, Money Tree, Fint, Payco, Fink, T-money Pay) and bank apps (Nonghyup All One Bank, Gyeongnam Bank To You Bank, Busan Bank Some Bank, Daegu Bank IM Shop, Gwangju Bank Personal Bank, Jeonbuk Bank New Smart Bank).

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