Sacheon City and Korea Minting, Security Printing & ID Card Operating Corporation Sign Business Agreement for Sacheon Love Gift Certificates

Mutual Cooperation to Strengthen Security for Preventing Forgery and Unauthorized Issuance

Gyeongnam Sacheon City and Korea Minting and Security Printing Corporation held a business agreement ceremony for the Sacheon Love Gift Certificate.

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] On the 21st, Sacheon City in Gyeongnam Province and the Korea Minting, Security Printing & ID Card Operating Corporation (KOMSCO) signed a business agreement for the issuance of Sacheon Love Gift Certificates in the mayor's office at City Hall, attended by Mayor Park Dong-sik and KOMSCO President Ban Jang-sik.

Local currency refers to alternative currency that is valid only within a limited specific region, unlike the official national currency.

Local currency can only be used in the issuing region, which has the advantage of preventing the outflow of local funds outside the area.

Through this agreement, both organizations agreed to mutually cooperate and strive to ensure the efficient distribution of Sacheon Love Gift Certificates and to strengthen security to prevent forgery, counterfeiting, and unauthorized issuance.

They also agreed to consult and decide together to prevent the outflow of local funds and revitalize the local economy by restoring the vitality of local commercial districts, and to faithfully implement these measures.

Mayor Park said, “I feel reassured that the gift certificates, which our city is issuing for the first time, will be issued by the credible Korea Minting, Security Printing & ID Card Operating Corporation. Please cooperate a lot so that it can help revitalize the local economy.”

President Ban said, “KOMSCO handles gift certificate operations for over 80 cities and counties and operates an integrated management system for anti-counterfeiting measures. You can rest assured. We will actively cooperate in the issuance of Sacheon Love Gift Certificates and work together to smoothly promote and revitalize the Sacheon Love Gift Certificate.”

The Sacheon Love Gift Certificate, one of Mayor Park’s key pledges in the 8th local government term, is scheduled to be issued on January 10 next year.

The issuance scale is 10 billion KRW, and KOMSCO will issue two types: 50% paper gift certificates and 50% mobile gift certificates.

The paper gift certificates will include 50,000 pieces of 5,000 KRW denomination and 475,000 pieces of 10,000 KRW denomination, and the mobile gift certificates will be issued in three denominations: 5,000 KRW, 10,000 KRW, and 50,000 KRW.

The design of the paper gift certificates was created using KOMSCO’s common design, with various security features invisible to the naked eye hidden on the front and back.

The front features the Sacheon City logo and the official seal of the Mayor of Sacheon, while the back includes usage instructions, issuing and inquiry contacts, and the gift certificate serial number.

The 5,000 KRW note depicts the night view of Samcheonpo Bridge, and the 10,000 KRW note features the Sacheon Sea Cable Car.

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