Jinju City Issues Additional 25 Billion Won in Jinju Sarang Gift Certificates ... Reviving Local Markets

Expectations for Local Economic Recovery with the Activation of Contactless Payments Such as Delivery Apps

Jinju Love Gift Certificate [Image source=Jinju City]

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Jinju City, Gyeongnam Province, will issue an additional 25 billion KRW worth of Jinju Sarang Gift Certificates to support small business owners struggling due to the novel coronavirus infection (COVID-19).

Jinju Sarang Gift Certificates, issued since September 2019 to prevent the outflow of local funds and to support small business owners and citizens' convenience, have become a spearhead for revitalizing local economies and recovering neighborhood commercial districts as the number of affiliated stores increased after the launch of mobile gift certificates in October last year.

The city originally planned to issue 25 billion KRW this year, but to support small business owners facing difficulties due to the prolonged COVID-19 pandemic, it is expected to issue a total of 50 billion KRW worth of Jinju Sarang Gift Certificates, doubling the scale.

Jinju Sarang Gift Certificates reduce fees and increase sales for small business owners, while providing citizens with discount benefits and expanded payment options, creating a virtuous cycle of consumption stimulation, sales increase, growth in affiliated stores, and consumer benefits.

With the mobile Jinju Sarang Gift Certificates, online payments are possible through the Jinju-type delivery app, further expanding payment options.

In preparation for the upcoming Chuseok holiday, the city will first issue a total of 15 billion KRW on September 1 at 9 a.m., including 13 billion KRW in mobile certificates and 2 billion KRW in paper certificates.

This is the fourth issuance following 10 billion KRW for Lunar New Year in January, 6 billion KRW for Family Month in May, and 6 billion KRW to stimulate consumption in July.

The discount rate for the fourth issuance is 10%, and purchases can be made up to a monthly limit of 300,000 KRW per person in two forms: paper and mobile.

Paper certificates can be purchased at nearby Nonghyup branches with an ID and used at approximately 4,600 affiliated stores.

Mobile gift certificates can be purchased through Zero Pay apps such as Beeple Zero Pay and All One Bank, and used at about 12,200 affiliated stores.

Jinju Mayor Cho Gyu-il stated, “We expect that the additional issuance of Jinju Sarang Gift Certificates will help restore consumer sentiment and provide practical support to increase sales for small business owners,” adding, “We hope this will be a source of strength for small business owners and citizens exhausted by COVID-19 ahead of the Chuseok holiday.”

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