Namwon Sarang Gift Certificates Surpass 200 Billion KRW in Cumulative Sales

[Namwon=Asia Economy Honam Reporting Headquarters, Reporter Jeong Young-kwon] The Namwon Love Gift Certificate issued in Namwon City, Jeonbuk (Mayor Lee Hwan-joo) is making a significant contribution to revitalizing the local economy.

According to the city on the 1st, as of the 20th of last month, the cumulative issuance amount of the gift certificates reached 207.7 billion KRW (paper 192 billion KRW, mobile 15.7 billion KRW), with sales amounting to 182.6 billion KRW, which is 87.9% of the total issuance, and unredeemed amount at 8.7 billion KRW, representing 4.7% of total sales.

Looking at the annual issuance amounts, it was 12 billion KRW (all paper) in 2019, 132.4 billion KRW (paper 130 billion KRW, mobile 2.4 billion KRW) last year, and 63.3 billion KRW (paper 50 billion KRW, mobile 13.3 billion KRW) this year.

The rising popularity of the Namwon Love Gift Certificate is largely due to securing over 3,400 affiliated stores and 67 purchase locations, making it easy for citizens and shops to use and exchange the certificates.

The city further boosted popularity by launching mobile gift certificates in May last year and card-type Namwon Love Gift Certificates in November through the establishment of a network system with the Korea Minting and Security Printing Corporation.

Additionally, the mobile gift certificates, which utilize the dedicated app (Local Love Gift Certificate chak), can be easily purchased via smartphone app by anyone aged 19 or older regardless of their residence area. Those who have difficulty accessing online services can also obtain them for free by visiting sales agency banks.

This not only resolved inconveniences related to visiting for paper-type gift certificate purchases and storage issues but also made it easy to check balances and recharge via the app, with notifications and messages providing details on usage amounts and locations each time they are used.

As a result, the number of mobile subscribers exceeds 14,031, and card registrations surpass approximately 7,200.

With the card-type Namwon Love Gift Certificate now available not only at NongHyup Bank but also at the Post Office, Saemaeul Geumgo, and ShinHyup, Namwon citizens can check benefits such as point accumulation by card company and select their preferred card company, leading to positive responses from citizens.

The city is actively preventing fraudulent distribution of gift certificates by introducing the ‘Gift Certificate Integrated Management Service.’

This system is equipped with an ‘Abnormal Transaction Detection Function’ that monitors and tracks both paper and mobile gift certificates to prevent fraudulent distribution.

The Namwon Love Gift Certificate allows individuals to purchase and use up to 1 million KRW per month by combining 500,000 KRW in mobile gift certificates and 500,000 KRW in paper gift certificates, with the current discount rate at 10%.

Now in its third year, the Namwon Love Gift Certificate has become a stable system used by nearly all citizens, playing a vital role in recovering the domestic economy and revitalizing the local economy by preventing the outflow of regional funds.

Namwon=Asia Economy Honam Reporting Headquarters, Reporter Jeong Young-kwon wjddudrnjs@asiae.co.kr

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