'Jongno Sarang Gift Certificates' Issued Worth 15 Billion Won

Purchases up to 700,000 KRW per person per month with a holding limit of 2 million KRW... Usable for up to 5 years from the purchase date... Available at about 12,800 ZeroPay affiliated stores... Currently purchasable at a 10% discount with a 30% income tax deduction benefit for year-end tax settlement

[Asia Economy Reporter Jongil Park] Jongno-gu (District Mayor Kim Young-jong) issued 15 billion won worth of Jongno Love Gift Certificates on the 3rd, following last year.

This is to eliminate the payment fee burden on small business owners struggling due to COVID-19 and to provide discount benefits to consumers, thereby revitalizing the local economy.

Individuals can purchase up to 700,000 won per month, with a holding limit of 2 million won.

The certificates can be used for up to 5 years from the date of purchase. They are issued in three mobile forms: 10,000 won, 50,000 won, and 100,000 won denominations, and can be used at approximately 12,800 Zero Pay affiliated stores within the region, excluding large supermarkets and department stores.

Currently, they can be purchased at a 10% discount, and consumers can also receive a 30% income tax deduction benefit during year-end tax settlement.

Purchases can be made through a total of 17 mobile apps, including Beeple Zero Pay, Check Pay, Money Tree, Fint, Payco, T-money Pay, Seulbaesaeng, Zero Pay, Ubi Pay, Fink, Shinhan SOL, Nonghyup, Busan Bank, Daegu Bank, Gyeongnam Bank, Jeonbuk Bank, and Gwangju Bank.

Meanwhile, Jongno Love Gift Certificates issued 20 billion won in January and 5 billion won in September last year, totaling 25 billion won, all of which sold out, gaining high popularity among consumers.

Using smartphones, it adopts a contactless payment method that can prevent infectious diseases, and payments can be made simply by receiving the QR code screen via text message, making it a favored untact payment method suitable for the COVID-19 era.

District Mayor Kim Young-jong said, “Jongno Love Gift Certificates were first issued last year to reduce the payment fee burden on local small business owners and support sales increases. They encourage responsible consumption by providing discounts and income tax deduction benefits to low-income citizens.” He added, “We will continue to devise various measures to revive the stagnant local economy and help increase sales for small business owners.”

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