Gwangju Sangsaeng Check Card to Switch to Pre-Charge and Pre-Discount System Starting August

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] The Gwangju Sangsaeng Check Card will change to a pre-charged and pre-discount method starting in August.

The Gwangju Metropolitan City announced on the 24th that the existing Gwangju Sangsaeng Check Card, which provided a 10% cashback after payment from the linked account, will be changed to a method where users charge up to 500,000 KRW per month and then use the card.

This change in operation is in accordance with the "Act on the Promotion of Use of Local Love Gift Certificates," which mandates that local love gift certificates must be purchased (charged) before use.

When users charge up to 500,000 KRW, only 450,000 KRW will be deducted from their account in a pre-discount method. Charging can be done at Gwangju Bank branches, internet banking, and smart banking, similar to the charging method of prepaid cards.

However, charging by visiting Gwangju Bank branches or using internet banking will be available immediately from August 1, but the smart banking service using smartphones will be available from August 16, two weeks later. Therefore, those who want to charge in early August must use internet banking or visit a branch.

If there is any unused charged amount from the previous month, additional charging is only possible within the 500,000 KRW limit including the unused amount.

To apply the charging method in August, if there is any remaining charged amount in the virtual account of the existing check card, the balance will be fully refunded to the main account on July 30, and after that, the virtual account of the check card will no longer be usable.

The check card can still be used without charging, but discount support funds will not be provided. To receive the 10% special discount, charging before use is mandatory, and refunds of charged amounts are only possible upon cancellation of the check card.

Also, payments for national taxes, local taxes, university tuition fees, and the four major insurance premiums, which do not align with the purpose of supporting some small business owners, will no longer be allowed.

Jung Young-hwa, head of the City’s Civil Economy Division, said, “The change in the usage method of the Gwangju Sangsaeng Card is a change made according to legal regulations, so it may be more inconvenient than before, but we ask for understanding. We will also do our best to carefully check the progress of system development and promotion before the implementation in August to ensure convenience for citizens who have shown great enthusiasm for the Sangsaeng Card.”

Meanwhile, Gwangju City is extending the 10% special discount period for the Gwangju Sangsaeng Card until December this year as a livelihood stabilization measure to increase income for local small business owners and self-employed people affected by COVID-19 and to revitalize the local economy. Under the supervision of Gwangju Bank, a prize event commemorating the 2nd anniversary of the Gwangju Sangsaeng Card launch is also being promoted until the 22nd of next month.

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