Pohang Sarang Gift Certificates Bring Warm Vitality and Hope to the Local Economy in the New Year!

Paper type 40 billion KRW, Card and Mobile type 20 billion KRW will automatically end when exhausted

Integrated Paper, Card, and Mobile personal monthly purchase limit 500,000 KRW, annual 6 million KRW available

Lunar New Year Special Discount Sale Promotional Poster for Pohang Love Gift Certificates.

[Asia Economy Yeongnam Reporting Headquarters Reporter Dongguk Lee] Pohang City will start the first discounted sale of the 2023 Pohang Love Gift Certificates from the 10th.

This discounted sale is part of efforts to support small business owners struggling with high inflation and high interest rates and to revive the stagnant local economy. In celebration of the upcoming Lunar New Year holiday, 60 billion KRW worth of certificates will be issued and sold at a special 10% discount. The paper-type certificates will be sold up to 40 billion KRW, and the card/mobile-type certificates up to 20 billion KRW, with sales automatically ending once these amounts are exhausted.

The paper-type gift certificates can be purchased at 166 financial institutions acting as sales agents located in Pohang City, while the card/mobile-type certificates can be recharged via a mobile app and at 14 Daegu Bank branches.

Starting this year, the purchase limit for individuals has been integrated for both paper-type and card/mobile-type certificates, allowing a discount benefit up to 500,000 KRW per month (6 million KRW annually).

Pohang City expects that with the completion of the integrated platform for paper-type and card/mobile-type gift certificates and the unified application of individual purchase limits starting this year, users will have a wider range of options in selecting the type of gift certificate.

Since last August, the city has significantly expanded the issuance of card/mobile-type gift certificates, which have gained explosive popularity among citizens due to the enhanced mobile app (IM#) offering greater convenience and diverse benefits. This plan aims to increase citizen satisfaction while preventing illegal distribution and reducing administrative management costs.

Mayor Kang-deok Lee stated, “The Pohang Love Gift Certificates, which have driven the local economy for the past six years, will continue to help recover the depressed consumer sentiment and invigorate the local economy. We will do our best to promote policies that activate the gift certificates to support small business owners and Pohang’s economy.”

Over the past six years, the cumulative issuance amount of Pohang Love Gift Certificates (including policy-issued amounts) has surpassed 1.663 trillion KRW, becoming a pillar of local economic development.

Starting with this Lunar New Year special discounted sale, Pohang City plans to issue 240 billion KRW worth of gift certificates this year to support small business owners and consumers. The certificates will also be provided as return gifts for the Hometown Love Donation Program, contributing to strengthening the local community and revitalizing the local economy. Additionally, once the undecided national subsidy amount is confirmed, it is expected that a similar scale of gift certificates as last year can be issued.

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