Gochang Sarang Gift Certificates, 10% Discount Sale... Up to 1 Million Won Per Person

Published 01 Dec.2023 09:46(KST)

Gochang-gun, Jeonbuk Province, will increase the purchase limit of the Gochang Love Gift Certificate from 500,000 won to 1,000,000 won per person and start selling it at a 10% discount until the 25th.

According to the county on the 1st, this purchase limit expansion is a measure to revitalize the local commercial district by stabilizing residents' lives and increasing sales for small business owners, so that they do not lose hope amid the global economic downturn, through the Snowflake Companion Festival for sharing and coexistence at the end of the year.

Gochang Love Gift Certificate Poster. [Photo by Gochang-gun]

The county plans to strictly crack down on illegal distribution by conducting on-site inspections of gift certificate sales agencies for unauthorized sales (sales to others) and continuously monitoring purchase and exchange histories through the gift certificate management system, including on-site inspections of suspicious franchise stores or businesses with excessive exchanges.

The Gochang Love Gift Certificate, issued with the goal of revitalizing the local economy, has entered its fifth year of implementation, with 2,900 affiliated stores, firmly establishing itself as a central medium for residents' consumption activities.

This year, the county sold 32.7 billion won worth of gift certificates through special discounts, including 11.6 billion won at a 20% discount for the Lunar New Year holiday, 8 billion won for recovery support from heavy rain damage, and 13.1 billion won with an increased purchase limit of 1,000,000 won for the Chuseok holiday.

With a continuous 10% discount sale throughout the year, 34.2 billion won worth of gift certificates were sold, bringing the total sales of Gochang Love Gift Certificates to 66.9 billion won by October, far surpassing last year's annual sales of 55 billion won.

The redemption rate is also 95%, indicating that most purchases are consumed locally, demonstrating the significant effect of the Gochang Love Gift Certificate in promoting consumption within the region.

Shim Deok-seop, the governor of Gochang-gun, said, “The discount event for the Gochang Love Gift Certificate helps reduce the financial burden on residents and plays a significant role in increasing sales for local small business owners. We hope those who missed the special discount opportunities so far will not miss the chance for sharing and coexistence through this event.”

He added, “We will continue to make Gochang a place where both residents and small business owners can smile together.”