Issuance of 10 Billion Won in Mapo Love Gift Certificates

Issued from 1 PM on the 12th, easy to use as mobile gift certificates... Expected to boost local small business sales and stimulate consumption, revitalizing the regional economy

[Asia Economy Reporter Jongil Park] Mapo-gu (Mayor Yudonggyun) will issue Mapo Love Gift Certificates starting at 1 p.m. on the 12th to promote local consumption and increase sales for small business owners during the summer vacation season.

Following the issuance of 20 billion KRW worth of certificates earlier this year, an additional 10 billion KRW worth will be issued this time.

Consumers can purchase the gift certificates at a 10% discount and use them at Zero Pay affiliated stores within the region. Merchants also receive a payment fee benefit ranging from 0 to 0.5% depending on their sales volume, which is lower than credit card fee rates.

The types of gift certificates issued are three denominations: 10,000 KRW, 50,000 KRW, and 100,000 KRW. Each individual can purchase up to 700,000 KRW per month, and the certificates are valid for five years from the date of purchase.

The Mapo Love Gift Certificates issued via mobile differ from paper certificates that require visiting a bank; they can be easily purchased through 19 apps such as Beeple Zero Pay and Check Pay on a smartphone. The usage method is also simple, identical to Zero Pay payments (scanning the merchant’s QR code to pay with the mobile gift certificate).

In particular, the greatest advantage of the Mapo Love Gift Certificates is that they can be used at daily life facilities frequently visited by residents, such as local restaurants and beauty salons. During the previous issuance, they sold out early and received great response from residents.

Stores where the gift certificates can be used are listed on the Zero Pay mobile gift certificate website. They can be used at most Zero Pay affiliated stores in the area, but considering the purpose of increasing small business sales, they cannot be used at large supermarkets, gambling-related businesses, large corporation-affiliated movie theaters, direct franchise stores of large or medium-sized companies, or private academies with annual sales exceeding 1 billion KRW.

A district official stated, “The biggest feature of the Mapo Love Gift Certificates is that they provide economic benefits to both consumers and small business owners,” adding, “Compared to paper gift certificates and credit/debit cards, distribution management costs are reduced, and it also contributes to establishing a sound distribution order.”

Yudonggyun, Mayor of Mapo-gu, said, “I hope the issuance of Mapo Love Gift Certificates, which can be used for consumption within the region, will lead to increased sales for small merchants and business owners struggling due to the prolonged COVID-19 pandemic, and that a culture of good consumption supporting local small businesses will take root, helping to revitalize the local economy.”

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