Hwasun Sarang Gift Certificates Surpass 130 Billion Won in Sales

Published 15 Feb.2022 15:07(KST)

[Hwasun=Asia Economy Honam Reporting Headquarters, Reporter Kim Ji-woon] The sales amount of Hwasun Sarang Gift Certificates issued by Hwasun County, Jeollanam-do, has exceeded 130 billion won.

According to the county on the 15th, as of December last year, Hwasun Sarang Gift Certificates were sold for 132.2 billion won.

Looking at the annual sales amount, it was 4.5 billion won in 2019, 59.2 billion won in 2020, and 68.5 billion won last year.

The county successfully established the local currency, Hwasun Sarang Gift Certificates, in everyday economy by utilizing various policy measures.

Analyzing the redemption rate against sales, affiliated stores have redeemed about 125.25 billion won, reaching a redemption rate of 95% compared to the sales amount (132.2 billion won).

The gift certificates were used and redeemed throughout daily life at neighborhood stores, traditional market shops, restaurants, hospitals, small and medium-sized marts, beauty salons, and more.

The county cited a 10% special discount on face value sales, gift certificate activation campaigns, and increases in users and affiliated stores as the background for revitalization.

Policy issuance, such as distributing various allowances and subsidies like COVID-19 disaster relief funds and farmers and fishermen’s public service allowances in gift certificates, and the release of card gift certificates (Hwasun Sarang Card) that can be easily charged and paid through a mobile application (app) also contributed.

Among the total sales amount, the general sales ratio accounted for 82% (108.1 billion won), while policy issuance (sales) accounted for 18% (24.1 billion won).

Paper gift certificates sold 123.9157 billion won, and Hwasun Sarang Cards sold (charged) 8.291 billion won.

The number of affiliated stores for paper gift certificates more than doubled from 1,063 in 2019 to 2,554 in 2021, and the number of Hwasun Sarang Card issuers and users increased from 1,506 in 2020 to 4,965 as of December last year.

As of December last year, the number of affiliated stores for Hwasun Sarang Card increased to 1,970, and compared to paper gift certificates, it is more convenient in many ways, receiving a good response from younger generations.

As distribution becomes more active, the number of affiliated stores and users increases, and a virtuous cycle structure of increasing sales and redemption scale is taking root.

In particular, gift certificates distributed as various COVID-19 disaster relief funds, including the Hwasun County disaster basic income of 200,000 won per person to all residents, played a supporting role in overcoming the COVID-19 crisis.

The county recently extended the “10% special discount sale” period by three months until May and plans to promote a small business Hwasun Sarang Card commission support project for the first time this year.

A county official said, “Please actively participate in using Hwasun Sarang Gift Certificates, which invigorate the local commercial district and provide great benefits to users. Since Hwasun Sarang Gift Certificates have successfully settled as local currency in everyday economic life, we will do our best to further revitalize them.”