Gangjin Sarang Gift Certificates, Guidance and Crackdown to Prevent Illegal Distribution

Up to 20 Million KRW Fine Imposed for Cheating Violations

View of Gangjin-gun Government Office / ? Asia Economy

[Asia Economy Honam Reporting Headquarters Reporter Kim Yong-su] Gangjin-gun, Jeonnam announced on the 12th that it will intensively inspect illegal distribution activities related to the Gangjin Sarang Gift Certificates issued and circulated to revitalize the local economy until the 30th.

The "Act on the Promotion of Use of Local Love Gift Certificates" (hereinafter referred to as the Local Love Gift Certificate Act) has been in effect since July, and if violations such as various illegal currency exchanges are discovered, a fine of up to 20 million KRW can be imposed.

According to the Local Love Gift Certificate Act, acts such as receiving gift certificates and paying cash as if there were sales transactions at affiliated stores without actual goods transactions, individuals who have not signed agreements with gift certificate sales agencies purchasing large quantities of gift certificates and selling or exchanging them to unspecified many, and currency exchange agencies exchanging gift certificates received from unregistered persons are all considered illegal currency exchanges.

Additionally, a fine of up to 5 million KRW can be imposed on those who refuse or obstruct investigations into violations of the law.

Since September, Gangjin-gun has introduced the Korea Minting and Security Printing Corporation's integrated gift certificate management service to actively respond to illegal activities.

As a result, all processes of gift certificate distribution, including manufacturing, sales, and exchange, can be checked in real time, and suspicious cases of illegal distribution can be detected through system-based distribution standards, enabling effective monitoring and tracking.

During this crackdown period, Gangjin-gun plans to focus on promoting compliance requirements for affiliated stores and users, actively encourage sound distribution of gift certificates, and hold meetings with local banks to seek ways to eradicate illegal distribution and revitalize the Gangjin Sarang Gift Certificates.

County Governor Lee Seung-ok said, "We will strive for systematic management and establishment of distribution order of the Gangjin Sarang Gift Certificates to provide practical help to small business owners struggling due to the prolonged COVID-19 pandemic," and added, "We hope that the local economy of Gangjin-gun will be further revitalized through the Gangjin Sarang Gift Certificates."

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