Gwanak Sarang Gift Certificates Sold Out with 18 Billion Won

Sold Out in 2 Months: 18 Billion Won of 2021's First Gwanak Sarang Gift Certificates Issued... Achieved 30 Billion Won in Payments by April 5, Contributing to Local Market Revitalization Out of Total 41 Billion Won Issued

[Asia Economy Reporter Jongil Park] Gwanak-gu (Mayor Park Junhee) sold out 18 billion KRW worth of Gwanak Love Gift Certificates issued on February 5 this year within two months.

The Gwanak Love Gift Certificates utilize QR codes for a contactless easy payment service, introduced to alleviate the payment fee burden on small business owners struggling due to COVID-19 and to revitalize the local economy by providing consumers with income tax deductions and discount benefits.

To revitalize the local commercial district, which has been stagnant due to the prolonged COVID-19 pandemic, the district issued a total of 23 billion KRW worth of Gwanak Love Gift Certificates in four rounds last year. This year, the first issuance was a large-scale 18 billion KRW out of the total planned 39 billion KRW, and thanks to the enthusiastic response from small business owners and residents, it sold out early.

Since last year, the Gwanak Love Gift Certificates, issued with various events, discounts, and 0% payment fees, have been well received, and including the 18 billion KRW issued this year, a total of 41 billion KRW has been sold out.

In particular, as of the 5th, 30 billion KRW of the purchased amount has been used for payments, contributing to increased sales for small business owners affected by the economic downturn and social distancing measures caused by COVID-19.

The Gwanak Love Gift Certificates are issued in three mobile denominations of 10,000 KRW, 50,000 KRW, and 100,000 KRW. The monthly discount purchase limit is 700,000 KRW, and the holding limit is 2 million KRW.

Refund criteria allow full refunds if the purchase is canceled within 7 days. For partial refunds, if more than 60% of the face value has been used, the remaining balance excluding a 10% discount support fund is refunded.

The certificates can be used at 11,590 Zero Pay affiliated stores within the region (as of April 4, 2021), but usage is restricted in large-scale stores and gambling-related businesses.

Additionally, to strengthen support for local small business owners, from March, usage is also restricted at large private academies for college entrance exams, movie theaters affiliated with large corporations, and directly operated stores of medium-sized or larger companies.

Restricted business types can be checked on the Seoul City website → Zero Pay → Seoul Love Gift Certificate resource room.

The number of apps available for purchasing and paying with the Gwanak Love Gift Certificates is also increasing. Apps such as Woori WON Banking and Shinhan SOL have been added, expanding the total to 19 options. Detailed information is available on the Zero Pay mobile gift certificate website.

Mayor Park Junhee said, “We plan to issue an additional 21 billion KRW worth of Gwanak Love Gift Certificates this year, hoping it will help increase sales for small business owners struggling due to COVID-19. We will continue to actively promote various projects to overcome COVID-19, revitalize local commercial districts, and encourage sustained consumption.”

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