Muju-gun Increases Purchase Limit for Muju Sarang Gift Certificates

Purchase limit increased from 500,000 won to 1,000,000 won for the month of November

[Muju=Asia Economy Honam Reporting Headquarters Reporter Kim Han-ho] Muju County announced on the 2nd that it will raise the purchase limit of Muju Sarang Gift Certificates from 500,000 KRW to 1,000,000 KRW per month for the month of November.

According to the county, due to the prolonged COVID-19 pandemic and the accumulated losses of small business owners, the purchase limit has been raised to overcome overall damages and revitalize the local economy.

As a result, consumers will be able to purchase up to 1,000,000 KRW in total, including a maximum of 300,000 KRW in paper gift certificates, which is expected to lead to increased sales and consumption activation.

Prior to this, the county promoted a card payback event in July to overcome the local economic downturn, stimulate consumption, and promote the use of card-type gift certificates.

The card-type gift certificate payback event provides an additional 5% incentive on the amount spent using card gift certificates, which have a lower possibility of illegal distribution, to help restore consumer confidence and revitalize local businesses.

Hwang In-hong, the governor of Muju County, said, “The prolonged COVID-19 pandemic has severely contracted the local commercial district and caused economic stagnation. We have raised the purchase limit of Muju Sarang Gift Certificates to support small business owners in overcoming losses and overall damages.”

Meanwhile, the introduction of Muju Sarang Gift Certificates was a campaign promise made by Governor Hwang In-hong to revitalize the stagnant local economy of Muju, and distribution began in July 2019 with 5,000 KRW and 10,000 KRW denominations available to residents.

By the end of October this year, the number of affiliated stores had increased significantly to 1,116, and sales reached 68.2 billion KRW, greatly contributing to the revitalization of the local economy.

Muju=Honam Reporting Headquarters Reporter Kim Han-ho stonepeak@asiae.co.kr

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