Naju Sarang Gift Certificates, Record High Sales Achieved

[Naju=Asia Economy Honam Reporting Headquarters Reporter Kim Yukbong] Naju City in Jeollanam-do is seeing expectations rise for revitalizing consumption in traditional markets and local alley businesses as the sales amount of the local currency, Naju Sarang Gift Certificates, for the first quarter has set a record high.

According to the city on the 26th, the total sales amount of gift certificates sold from January 1st of this year to the current date (26th) is approximately 50 billion KRW.

This is the highest amount since the first issuance of gift certificates in 2007 and far exceeds half of the 83.6 billion KRW sold throughout last year.

The record-high sales amount is analyzed to be the effect of circulating about 20 billion KRW worth of gift certificates in the market, including the city’s own emergency disaster relief fund of 100,000 KRW per citizen last month to overcome COVID-19 and the early payment of public interest allowances for farmers and fishermen.

Additionally, extending the “Naju Sarang Gift Certificate 10% Discount Sale” period, which offers a 10% discount on the face value when purchasing gift certificates, until the end of next month has further fueled the sales enthusiasm.

The city is focusing efforts on securing national funds to maintain the annual 10% discount sale system for gift certificates and plans to continuously promote the habitual use of gift certificates by encouraging employees of city hall, public institutions in the Innovation City, and government offices to use them.

Naju Sarang Gift Certificates can be purchased up to a monthly limit of 700,000 KRW at 54 designated financial institutions including NH Nonghyup Bank Naju Branch, local Nonghyup banks, credit unions, Saemaeul Geumgo, and Gwangju Bank.

The purchased gift certificates can be used at 3,100 designated affiliated stores in Naju, such as restaurants, marts, gas stations, pharmacies, and hospitals. Store registration can be applied for at the administrative welfare centers of the respective towns, townships, or neighborhoods where the business is located.

To complement paper gift certificates, card gift certificates launched in September last year can also be purchased through the dedicated app (CHAK). For elderly people who have difficulty using smartphones, card issuance and charging services are provided at 38 local Nonghyup branches and 17 post offices.

The city is also thorough in cracking down on illegal distribution amid the rapid increase in gift certificate circulation.

Suspected affiliated stores involved in illegal distribution are identified through the integrated local currency management system or resident reports, followed by preliminary analysis and on-site visits to confirm illegal activities.

Those involved in illegal acts such as unauthorized sales or exchanges will be fined up to 20 million KRW according to the “Act on the Promotion of Use of Local Gift Certificates” and related laws.

Minor violations such as non-compliance with affiliated store obligations will be subject to guidance, correction recommendations, or cancellation of store registration as administrative measures, while cases revealing large-scale illegal distribution will be referred to the police for investigation.

Mayor Kang In-gyu said, “We thank the citizens who participate in creating a good consumption culture that considers the local economy and families,” adding, “We will do our best to maintain the discount rate on gift certificate purchases, promote them, and conduct campaigns to achieve the win-win result of exceeding the 100 billion KRW sales target set for this year.”

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