Assemblyman Shin Jeong-hoon Introduces 'Local Love Gift Certificate Activation Act' as Main Sponsor

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Congressman Shin Jeong-hoon (Jeonnam Naju·Hwasun, Democratic Party) has taken the lead in proposing a revision to the 'Local Love Gift Certificate Activation Act' to promote balanced development and revitalize neighborhood commercial districts that have been depressed due to COVID-19.

According to Congressman Shin Jeong-hoon's office on the 10th, the amendment to the 'Act on the Operation of Public Institutions' specifies efforts to revitalize the local economy, such as purchasing local love gift certificates, as criteria for evaluating the management performance of public enterprises and quasi-governmental institutions.

Under the current law, the criteria and methods for evaluating management performance are determined by the Minister of Strategy and Finance after deliberation and resolution by the operating committee, and must include the rationality and achievement level of management goals, the public interest and efficiency of major projects, and the soundness of financial management.

Furthermore, the proposed amendment to the 'Special Act on the Creation and Development of Innovation Cities' focuses on including matters related to the purchase and use of local love gift certificates in the plans necessary for regional development established by relocated public institutions, and on the Minister of Land, Infrastructure and Transport disclosing the implementation performance by each institution.

The places where local love gift certificates can be used are franchise stores of local self-employed businesses and small business owners within the jurisdiction, excluding large supermarkets and department stores.

Although there are differences by region, the main target industries are daily life-oriented sectors such as restaurants, supermarkets, academies, and gas stations.

The scale of issuance has greatly increased from 371.4 billion won in 2018 to 9 trillion won this year, and the number of issuing local governments has also expanded significantly from 66 to 225 during the same period.

However, while Onnuri Gift Certificates have been reflected in public institution management evaluations since 2010 and have contributed to revitalizing traditional markets, local love gift certificates have been excluded.

Congressman Shin Jeong-hoon said, “Local love gift certificates were introduced to increase sales of small business owners, revitalize local commercial districts, and prevent the outflow of local funds. It is a key livelihood policy that breathes life into our neighbors who are on the brink due to the prolonged COVID-19 pandemic. Since a major purpose of relocating public institutions is balanced development, institutions should take greater responsibility for stimulating local consumption.”

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