Daegu City Expands Local Love Gift Certificate 'Haengbok Pay' Issuance to 1 Trillion Won... Sales Resume January 1

This Year, More Than Triple Increase to 300 Billion Won... Maintaining a 10% Discount Rate

The scene of the 'Daegu Happiness Pay' issuance ceremony held on June 3rd at Daegu Bank City Hall Branch. From the front row, right side: Kang Eun-hee, Superintendent of Daegu Metropolitan Office of Education; Kwon Young-jin, Mayor of Daegu; Bae Ji-sook, Chairperson of Daegu City Council; Kim Young-oh, President of Daegu Merchants Association; Kim Tae-oh, Chairman of DGB Financial Group; Lee Dong-myeon, CEO of BC Card.
[Photo by Yonhap News]

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Dong-wook] Daegu City announced on the 30th that it will resume sales of 'Daegu Happiness Pay,' a mobile app-based prepaid card usable only within the region, starting January 1, 2021.

Daegu City, which issued 300 billion KRW worth this year, will significantly expand the issuance scale to 1 trillion KRW in 2021. The discount rate will remain at 10%. With a personal payment of 450,000 KRW, users can charge 500,000 KRW onto the Daegu Happiness Pay card, and receive a discount of up to 50,000 KRW per month per individual.

From January 1 next year, recharging with existing cards will be possible through the Daegu Happiness Pay mobile app (IM Shop). Starting January 4, anyone aged 14 or older can recharge at all branches of DGB Daegu Bank located in Daegu, regardless of their address.

Convenience features for users have also been added. A free push notification service for approval details will be provided through the Daegu Happiness Pay mobile app (IM Shop). The introduction of mobile payment functions via the app is also under consideration.

Hong Eui-rak, Deputy Mayor for Economic Affairs of Daegu City, said, "Daegu Happiness Pay, first issued this year, was popular among citizens, being selected as one of the top 10 best policies of Daegu City in 2020," and added, "With the issuance of 1 trillion KRW next year, we hope it will bring hope to citizens and small business owners facing difficulties and revitalize the local economy."

Meanwhile, the total issuance scale of Daegu Happiness Pay this year reached 350.7 billion KRW, including general and policy issuance, and the usage rate compared to sales was 97% as of the end of December.

According to the performance analysis by Daegu-Gyeongbuk Research Institute, the economic ripple effects of issuing Daegu Happiness Pay this year were identified as 358.2 billion KRW in production inducement effect, 187 billion KRW in added value effect, and 5,811 jobs created.

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