Issuance of 10 Billion Won Gwangjin Sarang Gift Certificates

July 12 at 12 PM, Total Issuance of 10 Billion KRW, Boosting Small Business Sales... Consumers Receive 10% Discount and Year-End Tax Benefits

[Asia Economy Reporter Jong-il Park] Gwangjin-gu (District Mayor Kim Seon-gap) will issue the ‘Gwangjin Love Gift Certificate’ starting at 12 PM on the 12th to support small business owners struggling due to the prolonged COVID-19 pandemic.

The Gwangjin Love Gift Certificate is a mobile gift certificate usable at Zero Pay affiliated stores within Gwangjin-gu. It can be easily purchased and used by installing any of 20 payment apps such as Beeple Zero Pay and Check Pay.

The district issued a total of 23.5 billion KRW in three rounds last year, and this year it will expand by 11.5 billion KRW, issuing a total of 35 billion KRW.

In the first half of the year, 15 billion KRW worth was issued, with sales exceeding 6.1 billion KRW on the first day and selling out within 44 days, receiving enthusiastic responses from small business owners and residents.

As of July, the payment rate reached 92% compared to the issued amount, demonstrating high gift certificate purchases and rapid payments, significantly contributing to increasing sales for small business owners experiencing decreased revenue in the region.

The scale of the Gwangjin Love Gift Certificate to be issued in the second half on the 12th is 10 billion KRW, with an additional 10 billion KRW planned for issuance around the Chuseok holiday in September.

Especially, to revitalize local consumption ahead of the summer vacation, the certificates will be sold at a special 10% discount, and the denominations issued will be three types: 10,000 KRW, 50,000 KRW, and 100,000 KRW.

Purchases can be made by anyone regardless of their residential area, with a monthly limit of 700,000 KRW per person. Corporations can purchase without limit on the Zero Pay mobile gift certificate website.

The Gwangjin Love Gift Certificate can be used at most of the approximately 12,000 Zero Pay affiliated stores in the region. However, in line with the purpose of expanding local consumption and increasing small business sales, it cannot be used at large supermarkets, department stores, large corporations and franchises, gambling establishments, entertainment businesses, or large-scale private academies.

District Mayor Kim Seon-gap said, “The Gwangjin Love Gift Certificate, issued at a scale of 15 billion KRW in the first half, sold out quickly, showing strong interest from small business owners and residents. Encouraged by this support, we will issue a total of 10 billion KRW worth of Gwangjin Love Gift Certificates timed with the summer vacation period to reverse the subdued consumption atmosphere caused by COVID-19 and revitalize the local commercial districts.”

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