Gangbuk-gu Issues 'Gangbuk Love Gift Certificates' Worth 15 Billion Won

Consumers can purchase up to 700,000 KRW per month at a 10% discounted price

[Asia Economy Reporter Jongil Park] Gangbuk-gu (Mayor Park Gyeomsu) is issuing the 'Gangbuk Sarang Gift Certificate' worth 15 billion KRW.

The 'Gangbuk Sarang Gift Certificate' is a form of local currency in the form of a mobile gift certificate, issued in three denominations: 10,000 KRW, 50,000 KRW, and 100,000 KRW. Consumers can purchase up to 700,000 KRW per month at a 10% discounted price.

The individual holding limit is 2 million KRW.

The gift certificates can be used at about 8,200 Zero Pay affiliated stores within the region, including restaurants, academies, clinics, and traditional markets. Exceptions include gambling establishments, large and semi-large stores, franchise and agency stores operated directly by mid-sized companies or larger, and businesses that infringe on small alley markets, where usage is restricted.

To purchase the gift certificates, download one of the 17 Zero Pay applications on a smartphone and link it to a payment account. Refunds are possible within 7 days of purchase, and if more than 60% of the gift certificate's face value is used, the remaining balance excluding the discount support fund can be refunded.

The district plans to issue a total of 26.6 billion KRW worth of gift certificates this year.

This issuance amount is for the first half of the year, with the remainder scheduled for the second half. Additionally, efforts will focus on customized promotions to maximize gift certificate usage. In particular, promotional materials will be placed in 192 mobile phone stores in the district, and cooperation will be requested to guide visitors to the stores.

A district official stated, "Last year, we issued 13 billion KRW worth of 'Gangbuk Sarang Gift Certificates' and sold them all," adding, "This year, to stimulate the deeply frozen local consumer sentiment due to the prolonged COVID-19 pandemic, we have increased the issuance scale by more than 100% compared to last year."

For more details, contact the Job and Economy Division of the district office.

Gangbuk-gu Mayor Park Gyeomsu said, "We expect that increased use of the Gangbuk Sarang Gift Certificate will benefit both consumers and small business owners," and added, "We hope for active use of the 'Gangbuk Sarang Gift Certificate' to revitalize small alley markets and invigorate the local economy."

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