Issuance of Gangdong Sarang Gift Certificates Worth 10 Billion Won

10% Special Discount Sale, Purchases Available Within a Monthly Limit of 700,000 KRW

[Asia Economy Reporter Park Jong-il] The Gangdong Love Gift Certificate, which was first issued last year and received great response from residents, is making a comeback.

Gangdong-gu (Mayor Lee Jeong-hoon) will issue and sell the Gangdong Love Gift Certificate from 2 p.m. on the 5th to promote local consumption and increase sales for small business owners.

The Gangdong Love Gift Certificate is a mobile gift certificate that anyone can purchase up to a monthly limit of 700,000 KRW per person regardless of their residential area, and can hold up to a total of 2 million KRW per person. It is issued in three denominations: 10,000 KRW, 50,000 KRW, and 100,000 KRW. It is convenient to purchase anywhere by simply installing one of the 17 designated apps (such as Beeple Zero Pay, CheckPay, MoneyTree, Fint, Payco, Shinhan SOL, etc.) on a mobile phone registered under the purchaser’s name.

Last year, amid the economic downturn caused by the COVID-19 pandemic which dampened consumer sentiment and negatively affected the local economy, the Gangdong Love Gift Certificate played a significant role as a certificate usable only within the local area.

A total of 29.5 billion KRW worth of certificates were issued over the year, and each issuance phase from the first to the third was sold out early, drawing strong interest from residents.

This year, 10 billion KRW worth of certificates are planned to be issued in the first half of the year with a special 10% discount sale. The district expects that the high discount benefits will ease the economic burden on households ahead of the Lunar New Year holiday and contribute to increasing sales for small business owners.

Additionally, starting from March 1, 2021, the use of Gangdong Love Gift Certificates will be restricted at general private and foreign language entrance exam academies with annual sales exceeding 1 billion KRW, movie theaters directly operated by large corporations, and franchise direct stores operated by mid-sized or larger companies, thereby strengthening support functions for small business owners. However, academies unrelated to entrance exams such as music, art, and computer academies, as well as franchise affiliated stores, will still be able to use the Gangdong Love Gift Certificates as before.

Lee Jeong-hoon, Mayor of Gangdong-gu, said, “I ask everyone to actively use the Gangdong Love Gift Certificate, a convenient local love certificate in your hand accessible via mobile phone,” and added, “The district will continue to do its best to support small business owners and revitalize the local economy.”

For more detailed information about the Gangdong Love Gift Certificate, please contact the Gangdong-gu Labor Rights Center or the Korea Easy Payment Promotion Agency call center.

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