749 Billion Won Worth of 'Seoul Sarang Gift Certificates' Issued Additional in 6 Districts... 100 Billion Won Worth to Be Issued in December

Issued from the 8th... Usable in Gangbuk, Dobong, Dongjak, Mapo, Seocho, Jung-gu, etc.
Reflecting voices of small business owners and citizens... Aiming to reduce high inflation burden and revitalize local markets

[Asia Economy Reporter Lim Cheol-young] The Seoul Metropolitan Government announced on the 2nd that it will additionally issue Seoul Sarang Gift Certificates worth 74.9 billion KRW, usable in six autonomous districts including Jung-gu, Gangbuk-gu, Dobong-gu, Mapo-gu, Dongjak-gu, and Seocho-gu, starting from the 8th.

Seoul issued Seoul Sarang Gift Certificates worth 479 billion KRW in early September, but due to strong consumer interest, most of the district-specific gift certificates sold out early. The city explained that it hurried to issue additional certificates reflecting the on-site voices of consumers and small business owners requesting more issuance.

The gift certificates issued this time can be purchased at a 10% discount through Seoul Pay Plus, SeoulPay+, Shinhan SOL, T-money Pay, Moneytree, Shinhan pLay, and others. The purchase limit is 700,000 KRW per person per month, and a total holding limit of up to 2 million KRW. Gift certificate gifting is possible within the holding limit.

The gift certificates can be used within five years from the purchase date (three years for Dobong-gu) at Seoul Sarang Gift Certificate affiliated stores within the issuing autonomous district. For example, the ‘Seoul Jung-gu Sarang Gift Certificate’ can only be used at affiliated stores in Jung-gu. If the purchased gift certificates have not been used, they can be fully canceled regardless of the holding period, and if a partial amount has been used, refunds of the remaining balance are possible only if more than 60% has been spent.

The Seoul Metropolitan Government plans to additionally issue Seoul Sarang Gift Certificates (Metropolitan) with a 7% discount worth 100 billion KRW, usable throughout Seoul, in early December. Details on the issuance schedule will be announced through notices on the Seoul Pay Plus app and others once decided.

Meanwhile, since July, Seoul has been operating a service that allows users to directly transfer (integrate) gift certificate balances scattered across 24 Seoul Sarang Gift Certificate payment apps used until last year, such as Beeple Zero Pay and Check Pay, into five payment apps including Seoul Pay Plus.

In particular, from the 4th to the 30th, all users who transfer gift certificate balances via the Seoul Pay Plus app and others will receive 100 My Shinhan Points in mid-December. Gift certificates eligible for balance transfer include district-issued ‘Local Sarang Gift Certificates,’ expired ‘District Commercial Recovery Special Gift Certificates,’ and delivery-only ‘Himkok Gift Certificates.’ So far, about 74,000 people have completed balance transfers totaling 14 billion KRW.

Kang Nam-tae, Head of the Small Business Division, said, “Seoul Sarang Gift Certificates greatly help revitalize the local economy and reduce the actual household expenditure burden. Especially amid soaring prices, they provide much-needed support to consumers facing difficulties and to the depressed neighborhood markets. We will continue to promote various benefits and policies, including Seoul Sarang Gift Certificates.”

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