Nowon-gu Issues 3rd Additional Batch of 'Nowon Love Gift Certificates' to Revitalize Local Economy

Starting at 10 AM on the 13th, the 3rd sale of Nowon Sarang Gift Certificates begins, totaling 10.9 billion KRW with a 10% discount... Usable at 12,575 local Zero Pay加盟 stores including convenience stores, beauty salons, and restaurants

[Asia Economy Reporter Jongil Park] Nowon-gu (Mayor Oh Seung-rok) will issue additional Nowon Sarang Gift Certificates to support local small business owners struggling due to COVID-19 and the economic downturn, and to revitalize the local economy.

The Nowon Sarang Gift Certificate is a regional mobile gift certificate that can be used at Zero Pay affiliated stores within Nowon-gu. The newly issued certificates total 10.9 billion KRW and will go on sale starting at 10 a.m. on September 13. The first issuance of 18 billion KRW in February sold out within the month, and the second issuance of 11 billion KRW in July sold out on the same day, so this issuance is also expected to be quickly sold out.

The Nowon Sarang Gift Certificates come in three denominations: 10,000 KRW, 50,000 KRW, and 100,000 KRW. They can be purchased after installing any of 20 Zero Pay apps such as Beeple Zero Pay, Check Pay, and Money Tree. Regardless of residence area, anyone can purchase up to 700,000 KRW per person per month and hold up to a total of 2 million KRW. Refunds are available excluding discount support funds if more than 60% of the gift certificate’s face value has been used.

The district offers a 30% income deduction and a 10% purchase discount when buying the gift certificates. This discount rate is the same as the first and second sales, and considering the effect of increasing sales for local small businesses and the high expectations of residents, the district decided to maintain the discount rate by bearing 1.5% of the cost from its own budget.

The usage method is the same as Zero Pay. Users can scan the QR code of a Zero Pay affiliated store through a simple payment app, enter the payment amount, or present the QR code generated on their smartphone to the store for payment.

Purchased gift certificates can be used at 12,575 Zero Pay affiliated stores located in Nowon-gu, including academies, pharmacies, convenience stores, and restaurants. However, since the certificates are issued to support small business owners, usage is restricted at large supermarkets, gambling-related businesses, academies with annual sales exceeding 1 billion KRW, and directly operated stores (franchises operated by large or medium-sized enterprises).

The district plans to regularly announce the list of stores where the gift certificates cannot be used on the district office website so that users can check before purchasing or using the certificates.

Meanwhile, Nowon-gu has issued a total of 59 billion KRW worth of Nowon Sarang Gift Certificates over six rounds from the first issuance in March 2020 through July, all of which sold out amid strong interest from residents. As the number of affiliated stores has greatly increased and usage has become more convenient compared to the early days of issuance, the certificates are expected to continue playing a key role in the virtuous cycle of the local economy.

Mayor Oh Seung-rok said, “Since this issuance of Nowon Sarang Gift Certificates comes ahead of Chuseok, it is expected to have a greater effect on stimulating consumption than usual,” and added, “We hope residents will support local small business owners struggling due to COVID-19 by making wise purchases using local currency.”

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